Ukrtrangas believes that Ukraine could buy Azerbaijani gas
Ukraine does not lose hope getting natural gas from alternative sources, including the Caspian Sea, representative of Ukrtransgas told Reuters.
He said Ukraine plans to receive Azerbaijani gas via the trans-Anadolu (TANAP) and then Trans-Adriatic (TAP) pipelines.
Ukrtransgas representative did not disclose how gas will be transported to Ukraine from the pipelines. However, Ukrainian representatives repeatedly said that there are various ways to receive Azerbaijani gas in Ukraine: one of the options was swap deliveries. Gas will be transported to Italy and the European companies will reverse the similar volumes to Ukraine.—0—
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- Politics
- 27 June 2014 13:45
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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