On November 5, 2013 Ukrainian Premier Nikolai Azarov and Croatian Premier Zoran Milanovich are going to sign the memorandum to create the Adriatic gas corridor, which will connect Ukraine, Hungary and Croatia, said Ukrainian Premier at the meeting with the Assistant of the US Secretary of State Victoria Nooland.
“On November 5, 2013 Croatian Premier will pay an official visit to Ukraine and we are going to sign the memorandum to build LNG terminal and pipeline on the Adriatic coast,” the press office of the Ukrainian Cabinet of Ministers quoted Azarov.
Head of the government reminded that during the past three years Ukraine overpaid Russia $20 billion, because of the gas contracts of 2009, and now it is forced to diversify the energy carriers’ deliveries, production of hydrocarbons from non-traditional sources and also switch from power to coal.
In October 2013 the Ukrainian Ministry of Energy said that Ukraine, Croatia and Hungary have agreed to build the Adriatic gas corridor. The pipeline will be connected to the LNG terminal, which Croatia plans to build on the Krk island in the Adriatic Sea (Adria LNG project). The corridor envisages natural gas deliveries from the LNG terminal on the Krk island in Croatia through the Hungarian gas transportation systems to the Ukrainian gas storages.—0--
Economics
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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