"Southern Gas Corridor" , yet without Iran and Turkmenistan
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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The Central Bank of Azerbaijan (CBA) reported that its foreign exchange reserves amounted to $11.371 billion as of October 31, 2024. This represents a slight reduction of 3.6 percent from the September level, but an 8.2 percent increase compared to October 2023, highlighting the CBA’s role in navigating market demands while supporting national economic priorities.
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A delegation from the State Oil Fund of the Republic of Azerbaijan (SOFAZ), led by the fund’s Executive Director Israfel Mammadov, concluded a working visit to Saudi Arabia. The visit aimed to strengthen strategic partnerships in the international financial market and diversify SOFAZ’s investment portfolio.
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At a press conference on November 1, Taleh Kazimov, Chairman of the Central Bank of Azerbaijan (CBA), described the situation in the foreign exchange market as stable, due in part to the complete fulfillment of demand at CBA’s currency auctions.
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The surplus in Azerbaijan’s current account balance of payments for 2024 is projected at USD 5.3 billion, with an increase to USD 5.5 billion in 2025, according to a statement made by the Central Bank of Azerbaijan (CBA) on November 1.
Bələdiyyə seçkiləri niyə təyin olunmur? – Mirəli Hüseynov Çətin sualda
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