Last week Azerbaijani Energy Minister Natig Aliyev said while receiving US Ambassado to Azerbaijan Robert Sekuta that construction of Trans Adriatic pipeline (TAP) is scheduled for March 2016.
Several days later at the session of the Coordination Council of the Southern Gas Corridor (SGC) on February 29, 2016 Azerbaijani Minister said that the issues of the TAP funding will be solved in April 2016. He added later: “It will happen on April 28.” But he did not specify what is going to happen on that day.
Minister said that crisis at the world market does not create problems for the projects. “We do not have problems with funding of the Shah Deniz-2 project and SOCAR’s share in the projects. Our partners also have no difficulties.”
“SOCAR has shares both in TANAP and TAP. Major part of TANAP funding has been already settled. Whatever is happening at the market, the projects will be implemented,” Aliyev said.
RIA Novosti reported quoting Yan Bradshow, TAP Managing Director, said that TAP construction will begin in mid-2016 in the Greek city of Saloniki. He added that construction of TAP, which is a part of the SGC, will begin approximately at the end of May- early June 2016. “As far as access is concerned, Greece has created required conditions to begin the project,” he added.—0—
Economics
-
Food prices in Azerbaijan’s capital, Baku, increased by 5% during the first nine months of 2024, highlighting rising inflationary pressures in the domestic market, the Turan agency reported.
-
Global grain prices continued their downward trajectory in August, as the FAO grain price index slipped 0.5% from July and a sharp 11.9% year-on-year decline, reflecting weakening demand and intensifying competition among major exporters. Wheat prices were particularly impacted by higher-than-anticipated production levels in Argentina and the United States, exerting additional downward pressure on the international market.
-
Azerbaijan’s national air carrier, AZAL, has enhanced its international travel offerings through a new partnership with Ethiopian Airlines, providing passengers with increased connectivity and convenience for global travel, the airline announced on Monday.
-
The Azerbaijan Trade Forum, held on October 7, underscored the vital role of small and medium-sized enterprises (SMEs) in enhancing the country’s non-oil exports. Jointly organized by the Small and Medium Business Development Agency (SMBDA) and the Association of Customs and Logistics Companies of Azerbaijan, and supported by Pasha Holding, the event brought together stakeholders from various sectors, including import-export, logistics, production, and customs representation.
Leave a review