Ukraine plans to increase its gas production up to 24 billion cub.m, Ukrainian President Viktor Yanukovich said during his working trip to Svetlodarsk city, Donezk district, today.
The Ukrainian presidential press office quoted him as saying: “During the past two years the country has significantly increased gas production up to 21 billion cub.m. a year. Our goal is to extract even more. Soon gas production will be increased up to 24 billion cub.m.”
He added that now Ukraine pays the highest gas price in Europe. “We cannot buy so much gas at such a high price. We will take every effort to reduce expensive gas purchase and look for cheaper gas and we will diversify its deliveries,” Yanukovich said. He reminded that in 2010 Kiev bought 42 billion cub.m. of gas from Russia, while this year it will import 18 billion cub.m.—0--
Economics
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
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In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
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