The Cabinet of Ministers adopted Resolution # 490, providing for a change in the statute and structure of the CJSC Azerbaijan Caspian Shipping on November 30.
A subsidiary agricultural enterprise Denizci (Sailor) has been derived from the shipping company’s structure and is planned to be privatized. The new structure has included LLC ACSC Logistics and the Denizci building society as subsidiary legal entities. In addition, the shipping company’s structure may include legal entities and joint ventures established by the company outside the country.
The structure also includes the dry cargo port Zykh, and the Inflot Maritime Agency.
The shipping company has offices in all the five Caspian countries, as well as in Ukraine and Turkey.
Caspian Shipping was founded in January 2014 on the basis of the Caspian Shipping Company and SOCAR Caspian Marine Fleet. ------08D
Economics
-
The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
-
Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
-
Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
-
The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
Leave a review