Ukraine wants to import Azerbaijani gas via Russian pipelines
Ukraine would like to pump gas from Turkmenistan and Azerbaijan via the Russian pipelines. Nikolai Azarov, chief of the Ukrainian Cabinet of Ministers, said that the agreement on free trade zone in the CIS offers such an opportunity.
Ukraine hopes that by the end of 2014 it will conclude an agreement on deliveries of gas from Azerbaijan, Ukrainian Premier Nikolai Azarov said in his interview to MIR 24 TV channel.
“If we get gas from Azerbaijan, we will have to pump it either via Russian gas pipeline, or build the gas liquefaction plant and buy the tankers for transportation. These are huge costs and it is clear that this plan can hardly be implemented. But I would like to remind that when we signed and ratified the agreement on free trade zone in the CIS, we have agreed that the countries will have no access to the unified transport system, including the pipeline one,” said Ukrainian official.
“We are going to start negotiations on the direct purchase of gas not only in Azerbaijan, but also in Turkmenistan and may be in other CIS member-states,” concluded Nikolai Azarov.
Ukraine is looking for the possibilities to diversify the gas deliveries to the country. Russia offered to reduce gas price in exchange for Ukraine’s joining the Customs Union.—0—
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- Politics
- 27 March 2013 13:08
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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