"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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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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