Should Azerbaijan say “no” to the Nabucco pipeline project?

Vugar Bayramov: ‘ It doesn’t seem realistic to find an alternative to the Nabucco project neither in an economic nor political sense.’ The Nabucco gas pipeline agreement will be signed on June 6th. From the report of the Turkish Energy and Natural Resources Minister Taner Yildirim, it is obvious that Azerbaijan will not participate. The minister anounced that, the companies OMV (Austria), ‘BOTAŞ (Turkey), “Bulgargaz” (Bulgaria), “Transgaz”( Romania), “Mol Natural... Read More

CESD concerned over Azeri budget’s reliance on oil revenues. $12.1 billion will be transferred from the Oil Fund to the State Budget in 2011 alone.

The amendments and addenda introduced to Azerbaijan’s 2011 budget will increase the reliance of the country’s main financial document on oil revenues the Center for Economic and Social Development (CESD) announced. The CESD indicated that the initial version of the state budget envisioned a 6,8 billion manat ($ 8,6 billion) transfer from the State Oil Fund (SOFAR), which holds Azerbaijan’s revenues from crude exports. However, with the approval of the latest changes, an... Read More