Gas reserves in European underground storage exceed 87.5%

The State Oil Company of the Republic of Azerbaijan (SOCAR) has published a report on its production activities for the second quarter of this year.

Fitch Ratings has upgraded the long-term foreign currency rating of the priority unsecured Eurobond loan of Southern Gas Corridor CJSC (SGC, established in February 2014 to fulfill Azerbaijan's financial obligations under the “Shah Deniz-2” project and the Southern Gas Corridor) to "BBB-" from "BB+".

In January-July 2024, electricity production in Azerbaijan decreased by 0.33% compared to the same period in 2023, amounting to 16.269 billion kWh.

In January-July 2024, the production of electricity from renewable and alternative energy sources (RES), including hydroelectric power plants, exceeded 2 billion 252.3 million kWh.