On July 11, 2012 Turkish President Abdulla Gyul ratified the intergovernmental agreement on construction of the trans-Anatolian gas pipeline (TANAP), which was signed between Azerbaijan and Turkey in Istanbul on June 26, 2012.
Construction of the TANAP gas pipeline, which will originate from the east of Turkey and reach the EU border on the west of the country, will begin in the second half of 2014 and end in quarter 4, 2017. The preliminary cost of the pipeline is 7-8 billion Euro. The pipeline will be about 2,000 km long and the pipe diameter will be 56 inches. Its initial capacity of 16 billion cub.m. could be expanded up to 32 cub.m. after 6-8 years to export 20 billion cub.m. of gas to the European markets and 12 billion cub.m. of Azerbaijani gas a year to the Turkish local market. Feasibility study of the project will be ready by quarter 4, 2013.—0—
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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