Malaysia’s oil and gas company Petronas will conduct exploration at the Goshadash structure in the Azerbaijani sector of the Caspian Sea, First Vice President of the Azerbaijan’s state oil company SOCAR Khoshbakht Yusifzade said. Yusifzade said that the exploration could be deepened in future, but currently general works, including seismic works, were underway. “If the…
The Southern Gas Corridor (SGC) project will enhance Azerbaijan’s role in forming eastern and western energy corridors, said the country’s Deputy Energy Minister Natig Abbasov. Despite the decline in oil prices, Azerbaijan continues to implement large transnational projects, said the deputy minister. As a country located at the intersection of Europe and Asia, Azerbaijan has…
Another fifty-one state enterprises have been put up for privatization in Azerbaijan, the country’s State Property Issues Committee said. Twenty-five of the enterprises put up for the auction are located in various districts of Azerbaijan, and 30-45% of shares of the controlling stake in the authorized capital of these enterprises are subject to privatization. These…
Azerbaijan is considering the possibility of transporting Iranian gas through its territory to Europe, said Azerbaijan’s Deputy Energy Minister Natig Abbasov. He noted that it would become possible through Iran’s joining the Trans-Anatolian Natural Gas Pipeline (TANAP) project. Abbasov didn’t exclude possibility of transporting Iraqi gas through Azerbaijan to Europe. TANAP project envisages transportation of…
In January-June the import volumes of wheat to Azerbaijan totaled 682.8 thousand tons, down by 14.7% YoY, the State Statistical Committee of the Republic of Azerbaijan reported. According to the statistics figures, the total cost of imported wheat to the country reached $129.13 (down by 31.1%). In the reporting period Azerbaijan imported 71.4 thousand tons…
French automobile concern Renault plans to deliver cars to Azerbaijan from Russia. Renault has already started to deliver cars to Kyrgyzstan from Russia. Meanwhile, the company wants to expand opportunities to localize the production thanks to the access to new markets of the CIS (Commonwealth of Independent States), while car sales in Russia decrease against…
The Asian Development Bank (ADB) has postponed the consideration of allocating a $200 million loan for implementation of the International North-South Transportation Corridor project, as well as for development of Azerbaijan’s railway sector, till the next year, said an ADB message. Earlier, the bank’s management planned to hold the project’s overview on December 12, however,…