The Norwegian company Statoil has decided to sell its 20% stake in the Trans Adriatic Pipeline (TAP) to the Italian Snam for 208 million euros. This is stated in the message posted on the site Statoil.
The amount of the transaction in addition to the 20% share of Statoil also includes a proportionate part of its loans to the shareholders of the consortium TAP.
The TAP project is designed to transport gas from the second stage of development of Azerbaijani gas from the condensate field Shah Deniz to the EU.
Statoil left the TAP project because piping is not its core activity and the company intends to focus on oil and gas production projects.
The transaction can be considered reasonable for Statoil, taking into account that the construction works have not started yet. Construction of TAP is scheduled to begin in 2016. -0-
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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