The Southern Gas Corridor is planning to expand
On February 29 in Baku a Joint Declaration was signed after a meeting of the Advisory Board of the "Southern Gas Corridor". The document was signed by 12 ministers who took part in the meeting, including the Vice-President of the European Commission for Energy Maroš Shevchovich. The signatories called for the coordination of actions to accelerate implementation of the project "Southern Gas Corridor" and the expansion the project beyond the EU, including the Balkans. o address issues related to the attraction of new suppliers or transit countries, it is suggested to continue consultations on a bilateral and multilateral level. -02D-
-
- Photo sessions
- 29 February 2016 17:16
-
- Social
- 29 February 2016 18:08
Economics
-
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.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review