Turkmenistan has presented no official applications to Azerbaijan about the submission of the situation around the Kapaz oilfield to the International Arbitration, the Azerbaijani Foreign Minister Elmar Mammadyarov told the media today.
He noted that Turkmenistan's intention to address this issue to international arbitration has become known from statements by Turkmenistan officials to the press. However, no official note has been directed from Ashgabat to Baku.
Mammadyarov said that Azerbaijan is for solving the problem on the basis of the median line in the Caspian Sea. It was on this principle that Azerbaijan, Kazakhstan and Russia held a sector division of the Caspian Sea between them.
Mammadyarov said he hoped that on the basis of this principle the sector division problem between Azerbaijan and Turkmenistan, and Azerbaijan and Iran will be solved. -06C-
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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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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