Azerbaijan's Oil Fund Assets Increase by $5.3 Billion Since the Start of the Year

The State Oil Company of Azerbaijan (SOCAR) has received a sustainability rating of BBB for 2024 from MSCI, a leading international rating agency focused on ESG (Environmental, Social, and Governance) criteria.

From January to September of this year, 164 million 926 thousand barrels of oil were transported through the Baku-Tbilisi-Ceyhan (BTC) pipeline,  a 4% decrease compared to the same period last year, "BOTAŞ," the operator of oil and gas pipeline transportation in Türkiye reported.

Since its commissioning, the Garadagh solar power plant has produced 458.8 million kWh of electricity, the Ministry of Energy of Azerbaijan reported. According to the information, the plant, which was officially inaugurated on October 26 last year, is considered a source of "green" energy. It is noted that the total capacity of the plant, built by “Masdar” from the United Arab Emirates, is 230 MW.

Turkmenistan and Afghanistan are continuing active discussions regarding the construction of the Serhetabat-Herat gas pipeline,  Muhammetmyrat Amanov, General Director and Chairman of the Board of Directors of TAPI Pipeline Company Limited, stated at a panel discussion on "The Future of Turkmen Natural Gas: New Export Routes and Export Potential" in Ashgabat.