State Oil Fund Budget Revenues Reduced

BP-Azerbaijan, the technical operator of the “Shah Deniz” field development, has halted operations on the Alpha platform due to a technical malfunction on the underwater pipeline designed to transport condensate.

Gas supplies from Azerbaijan to Serbia will not be suspended, Serbian President Aleksandar Vučić  announced on his social media page X. "Our brothers and friends from Azerbaijan have just informed me that, despite the objective problems caused by force majeure circumstances, gas supplies to Serbia will not be suspended. A huge thank you to Azerbaijan and President Ilham Aliyev, whom I look forward to welcoming soon in Belgrade," he wrote.

Azerbaijan has surpassed all countries of the Commonwealth of Independent States (CIS) and the Caspian region in the 2024 Energy Transition Index (ETI), compiled by the World Economic Forum (WEF).

Last year, wind turbines generated 19% of the electricity consumed by EU countries, and 20% across all of Europe, according to data from Wind Europe. At the same time, the continent is falling short of its own target of generating 34% of its electricity from renewable energy sources by 2030.