SOCAR reported on its activities for the second quarter of 2024

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.

The feasibility study of the project for the construction of a high-voltage power transmission line from Azerbaijan to the EU through Georgia has confirmed the economic and technical prospects, the Ministry of Economy of Georgia announced yesterday.