Turkey is going to increase its share in the trans-Anadolu pipeline (TANAP) project up to 30%, said Turkish Minister of Energy and Natural Resources Taner Yildiz at the ceremony of signing of the final investment decision on the Shah-Deniz-2 project in Baku yesterday.
He said increasing Turkey’s share in the TANAP project is very important for his country.
Minister added that the projects currently implemented in the region are extremely important.
SOCAR’s President Rovnag Abdullayev said earlier that Turkey’s share in the TANAP could be increased.
He said that Turkey’s share could be increased at the expense of the shares offered to Statoil and Total companies. The both companies have recently stated they are not going to join the TANAP project, though they have been negotiating with SOCAR since October 2012 to get 12% and 5% shares, respectively. Turkish state-run pipeline company BOTAS owns 20% share in TANAP.—0—
Economics
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The Azerbaijani government is determined to stabilize oil production. This intention was announced by President Ilham Aliyev earlier this year. "Work is underway to stabilize oil production, and I believe we will see results in the near future. We need stable oil production, and this task has been set before the investors," he remarked during one of his speeches.
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Representatives from the World Bank, Azerbaijan’s Ministry of Digital Development and Transport, and the leadership of the Baku International Sea Trade Port (BISTP) convened in Alat on Monday to discuss the implementation of the second phase of the port’s development, the largest on the Caspian Sea.
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Investments in Azerbaijan's fixed capital totaled 15.91 billion manats ($9.36 billion) in the first 11 months of 2024, marking a 3.8% decline compared to the same period last year, official data showed on Thursday by the State Statistics Committee.
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Discussions surrounding the implementation of a landmark renewable energy project on the Absheron Peninsula took center stage at a December 11 meeting hosted by Azerbaijan’s State Agency for Renewable Energy (AREA) under the Ministry of Energy. The project, initiated through a memorandum of understanding signed on March 1 in Baku, involves collaboration with the Spanish engineering giant Elecnor.
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