Trans Anadolu pipeline to take Azeri gas to Europe via Turkey

Trans Anadolu pipeline to take Azeri gas to Europe via Turkey Azerbaijani natural gas is to be exported to Europe through Turkey by a new pipeline called Trans Anadolu, head of Azerbaijan’s state energy firm SOCAR Rovnag Abdullayev was quoted by Turkish news agency Anadolu as saying. Abdullayev told a Black Sea energy forum in Istanbul that Azerbaijan and Turkey have begun exploring the possibility of building the new pipeline, which will stretch from Turkey’s eastern border... Read More

New decline wave in Azerbaijan Economy

New decline wave in Azerbaijan Economy Official results of 10 months of 2011 is very pessimistic; 4 % decline in industry, 7,8 drop in oil GDP, 9,2 fall in oil production State Statistic Committee of Azerbaijan has publicized official statistics on economic outcomes of the first 10 months of 2011. There is noticeable decline in almost all economic figures in this period. Decline in the oil sector caused Azerbaijan’s 2011 economic growth to shrink to 0,2 percent in the... Read More

Talks between EU and Azerbaijan on Visa Facilitation and Readmission Agreement will be launched early next year

Talks between EU and Azerbaijan on Visa Facilitation and Readmission Agreement will be launched early next year “I expect talks on visa facilitation and readmission agreements to be launched early next year, provided of course the preparatory work is done and the EU Member States give the Commission the mandate to start. This is clearly a priority issue for us, as it brings our people and societies closer together”- mentioned Catherine Ashton, High Representative of the EU... Read More

The oil GDP dropped by 7.8% in Azerbaijan

The oil GDP dropped by 7.8% in Azerbaijan In January-October of 2011, the GDP volume of Azerbaijan made up $51.748bn. The State Statistical Committee of Azerbaijan announced that is a a growth of 0.3% or AZN 95.8m in comparative prices over GDP in the reporting period of 2010. AZN27.8bn or 68.4% of GDP was formed through production, AZN 10.5bn or 25.7% in services, AZN 2.4bn (5.9%) through net taxes in production and import. The oil GDP dropped by 7.8% and nonoil grew by 8.6%.... Read More

SOCAR to export gas to southeast Europe

SOCAR to export gas to southeast Europe The SOCAR will transport gas to southeast European countries from its own fields before gas exports as part of Shah Deniz II start. The statement came from Adviser to SOCAR President Murad Heydarov. The gas deliveries to Bulgaria stands on agenda at the moment, he said. “We signed a memorandum on transportation of 1 billion cubic meters of gas a year with Bulgaria in 2009. The talks are under way on this issue at the moment. There... Read More

$ 2,3 billion tax debt

$ 2,3 billion tax debt Of these, AZN 1 bn – the debts of the private, AZN 800m – the public sector, the deputy taxes minister Natig Amirov said at the joint meeting of committees of the Parliament. To him, 80% of the debts on public sector fall on share of share of communal sector. Half of the debt related to the private sector is the debt remained since 2008. Amirov noted that, in general, the interests calculated by tax authorities were not considered a tax debt:... Read More

Peal Oil: The End of the Oil Age in Azerbaijan

Peal Oil: The End of the Oil Age in Azerbaijan Officials figures and forecasts confirm that oil boom is approaching to end; 50 million ton in 2010, 46 million ton in 2011 and 45 million ton in 2012, 32 million ton in 2016 Azerbaijan will produce 45 million tons of oil in 2012, Khoshbakht Yusifzada, the state oil company SOCAR’s First Vice-President, told reporters. He said SOCAR will account for 8-8.3 million tons of the total volume of oil to be produced next year, while the... Read More

EU energy projects to bring the Caspian and Europe closer

EU energy projects to bring the Caspian and Europe closer Revenue windfall ‘should result in increased social protection and education’ (AzerNews, November 15) – The European Union recently authorized the European Commission to open talks with Azerbaijan and Turkmenistan on the construction of the trans-Caspian gas pipeline. The negotiations are due to begin in October. The trans-Caspian pipeline is part of Nabucco, an EU-backed project seeking to pump gas from the Caspian... Read More

Iraq may join Turkish-Azeri gas pipeline project

Iraq may join Turkish-Azeri gas pipeline project Iraq may join the agreement signed by Azerbaijan and Turkey on plans to consider the construction of a new gas pipeline, an adviser to the Turkish Energy Ministry Salahaddin Cimen was quoted by Turkey’s Anadolu news agency as saying. “Iraq’s participation in this project as a gas producer is important for us,” Cimen told an oil and gas event in Iraq. He said the global demand for energy is growing, and Turkey’s... Read More

Inflation or Deflation?

Inflation or Deflation? State Statistic Committee of Azerbaijan announced deflation in Azerbaijan in October 2011 compared to September 2011 which was 0.5%. The report notes that in October, food prices grew by 0.1%, nonfood goods – by 0.4%, while services fell by 0.5%, according to a press release of the State Statistical Committee of Azerbaijan. According to the statistics for reporting month prices for flour, bread made from rye and mixed flour, buckwheat, eggs, lemons,... Read More