The transport terminal of the Shah Deniz-2 gas pipeline opened in Poti at the end of last week, reported press office of the Georgian President. Georgian Premier Iraklii Garibashvili has attended the opening ceremony.
“The Shah-Deniz-2 project terminal will ensure transportation of pipes and other equipment required for expansion of the South Caucasian pipeline through Azerbaijan and Georgia,” Premier added. He also emphasized importance of the Shah Deniz-2 project.
“This is among the most complex energy projects, which will strengthen geopolitical positions of both Georgia and Azerbaijan,” Garibashvili said.
The first gas from the Shah Deniz Phase 2 is planned to be extracted in 2018. Gas export to Turkey is expected to begin at the end of 2018 and then gas will be exported to the European market in 2020.—0—
Economics
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
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