International Conference on NATO and Energy Security

International Conference on NATO and Energy Security Energy security is becoming a priority of NATO policy at the present stage, and Azerbaijan – one of the most important partners of the Alliance in this area. This is the keynote opened the international conference: “Energy security in the Caspian region and NATO’s role in the protection of critical energy infrastructure.” The event was organized by the Azerbaijan... Read More

SOCAR Oil Export Declined by 7 % in the first quarter of 2012

SOCAR Oil Export Declined by 7 % in the first quarter of 2012 The State Oil Company of Azerbaijan exported 5,2 million tonnes of oil via all routes including Baku-Novorossiysk, BTC and Baku-Supsa pipelines in the first quarter of 2012 which is 7,2  % lower than compare with the same period last year. SOCAR exported 5,6 million tonnes in the first three months of 2011 . Sources at the SOCAR mentioned that Baku-Novorossiysk exported 496,8 thousand... Read More

Azeri Oil Export Significantly Down in 2011

Azeri Oil Export Significantly Down in 2011 Azerbaijan’s overall export of oil products dropped by 21.6% in 2011. SOCAR exported 155.663 thousand tons of crude oil through Novorossiysk port (Black sea, Russia), 161.697 thousand tons – through Supsa port (Black sea, Georgia), 1,645.230 thousand tons – Jeyhan port (Mediterranean sea, Turkey). Compared to December, 2010, oil export through Novorossiysk port dropped 6%, through Jeyhan port decreased... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More

New gas pipeline deal

New gas pipeline deal Turkey and Azerbaijan signed on Monday an agreement to build a pipeline to carry 10 billion cubic metres of Azeri gas to European markets starting in 2017, the Anatolia news agency reported. The deal comes as the EU’s plans to build the so-called Nabucco pipeline across Turkey to bring in Caspian Sea gas and reduce Europe’s dependence on Russia has struggled to sign up suppliers. The accord on building the $5-billion... Read More