The implementation of the project "Southern Gas Corridor" should not be in doubt, this is general opinion expressed at a press conference in Baku after a meeting of the Advisory Board of the project. Azerbaijani Energy Minister, Natig Aliyev, said that gas pipeline TANAP and TAP are the basic elements of the project "Southern Gas Corridor", and they are interrelated. This is a mega-project, supported by the US and the EU, involving many billions of dollars and active participation of many countries and international financial institutions, its complexity and scale is due to this.
In turn, the EU Vice-President for Energy Marcos Shefkovich noted that all project participants, including Azerbaijan, Georgia, Turkey and the Balkan countries reaffirmed their readiness to fulfill their obligations, and the first gas in the framework of this project will go to Turkey, and from there to Europe in 2018.
Turkish Energy Minister Berat Albayrak said that all Turkish companies and organizations involved in the project, continue to work, and there are no issues that can affect its implementation.
Special envoy of the US State Department, Amos Hokshtayn, said that the US and the EU will promote the participants in the matter of security of the "Southern Gas Corridor".
Asking the question from Turan correspondent could they expect Iran’s and Turkmenistan’s joining the project as potential suppliers of gas, Hokshtayn noted that at the meeting in Baku the topic was not on the agenda, and therefore was not discussed. -03В-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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