Global Gas Demand Forecast: Maximum Drop in 2020, but Growth by 2040

SOCAR Türkiye Enerji AS (STEAS), a subsidiary of Azerbaijan's state oil company SOCAR, has announced plans to construct new facilities in Turkey for the production of ethylene, polypropylene, and polyethylene (polyolefins). This initiative comes as Turkey's demand for these products continues to grow, with the country currently importing nearly 90% of its polyolefins.

The presence of "hotspots" on the global map, geopolitical instability, and the uncertain future of the U.S. dollar—the key currency in trade operations—are factors driving increased investments in gold by private investors, companies, banks, and sovereign wealth funds.

Azerbaijan plans to reduce its greenhouse gas (GHG) emissions to 54.99 million tons of carbon equivalent by 2030, down from 61 million tons in 2024, the government has reported.

At the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, which began in Baku on November 11, a decision was made to allocate $300 billion annually for climate financing by 2035. Additionally, ten years of negotiations on high-quality carbon markets under Article 6 of the Paris Agreement were concluded. A decision was also made to fully operationalize the Loss and Damage Fund.