The completion of the three-passenger vessel in the Baku Shipyard is scheduled for April this year. The ships have been ordered by the Azerbaijan Caspian Shipping Company. According to the Ministry of Economy and Industry, in parallel, the company is building specialized ships "Khankendi" to implement the underground construction work. The customer is bp and the cost of the contract for this work is $ 378 million. In 2015 the Baku Shipyard built two floating rigs and three blocks.
The Baku Shipyard was established in May 2011 with the participation of SOCAR (65%), JSC "Azerbaijan Investment Company" (25%) and Singapore's Keppel Offshore & Marine (10%). The plant cost $ 470 million, of which $160 million is a joint stock capital.
Baku Shipyard is able to produce four ships with a displacement of up to 15,000 tons, two tankers with a displacement of up to 70,000 tons , and four auxiliary vessels per year, as well as to repair 80-100 vessels. 08D
Economics
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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Turkey aims to achieve carbon neutrality by 2053, transforming key sectors of its economy in line with a vision of "net-zero emissions and green development," President Recep Tayyip Erdogan announced at COP29 in Baku on Monday.
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