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
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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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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