Economic Development in Azerbaijan
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Azeri440
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SOCAR talks implementation of AGRI project
The Azerbaijan-Georgia-Romania Interconnector (AGRI) project is not dead, but its implementation needs time, Suleyman Gasimov, vice-president for economic issues at Azerbaijan’s state oil company SOCAR, said, Romanian media reported.
Gasimov said that the project requires big investments.
“It is necessary to build a terminal in Georgia, and then another one in Romania,” he noted.
Currently, SOCAR participates in other projects – the Trans Adriatic Pipeline (TAP) and Trans Anatolian Natural Gas Pipeline (TANAP), which envisage the supplies of Azerbaijani gas to Europe.
However, SOCAR vice-president said that the AGRI project may be implemented if all its parties support the project’s implementation.
AGRI project envisages transportation of Azerbaijani gas to the Black Sea coast of Georgia via gas pipelines. Azerbaijani gas delivered to Georgia's Black Sea coast will be liquefied at a special terminal and following this, it will be delivered in tankers to a terminal at the Romanian port of Constanta.
Further, it will be brought to the gaseous state and sent via Romanian gas infrastructure for meeting the demands of Romania and other European countries.
The cost of the project will vary from 1.2 billion euros to 4.5 billion euros, according to the preliminary estimations.
The participants of the AGRI project are the State Oil Company of Azerbaijan (SOCAR), Georgia's Oil and Gas Corporation, as well as MVM (Hungary) and Romgaz (Romania).
The parties established the SC AGRI LNG Project Company SRL in February 2011 for the implementation of the project.
http://www.azernews.az/oil_and_gas/105356.html
The Azerbaijan-Georgia-Romania Interconnector (AGRI) project is not dead, but its implementation needs time, Suleyman Gasimov, vice-president for economic issues at Azerbaijan’s state oil company SOCAR, said, Romanian media reported.
Gasimov said that the project requires big investments.
“It is necessary to build a terminal in Georgia, and then another one in Romania,” he noted.
Currently, SOCAR participates in other projects – the Trans Adriatic Pipeline (TAP) and Trans Anatolian Natural Gas Pipeline (TANAP), which envisage the supplies of Azerbaijani gas to Europe.
However, SOCAR vice-president said that the AGRI project may be implemented if all its parties support the project’s implementation.
AGRI project envisages transportation of Azerbaijani gas to the Black Sea coast of Georgia via gas pipelines. Azerbaijani gas delivered to Georgia's Black Sea coast will be liquefied at a special terminal and following this, it will be delivered in tankers to a terminal at the Romanian port of Constanta.
Further, it will be brought to the gaseous state and sent via Romanian gas infrastructure for meeting the demands of Romania and other European countries.
The cost of the project will vary from 1.2 billion euros to 4.5 billion euros, according to the preliminary estimations.
The participants of the AGRI project are the State Oil Company of Azerbaijan (SOCAR), Georgia's Oil and Gas Corporation, as well as MVM (Hungary) and Romgaz (Romania).
The parties established the SC AGRI LNG Project Company SRL in February 2011 for the implementation of the project.
http://www.azernews.az/oil_and_gas/105356.html
Azeri440
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Iran-Azerbaijan-Georgia corridor to be launch in month
Iran, Azerbaijan and Georgia are carrying out a plan to make operational a long-overdue corridor that will carry shipments from the Black Sea – between Eastern/Southeastern Europe and Western Asia – to the Persian Gulf in the southeastern Middle East.
The announcement was made by Deputy Head of the Islamic Republic of Iran Railway Company for Operation Affairs Hossein Ashouri in an interview with Trend at the International Rail Business Forum on "Strategic Partnership 1520: The Caspian Region" in Baku.
"The corridor has not been used since our railway was not complete. Now, however, Iran, Georgia and Azerbaijan are willing to run the route," he said.
"The sides have already reached agreements over the fare and also the time of the trip. We are hopeful to run the route in one month and take shipments to the Persian Gulf. The cargos will be carried from Romania to Georgia, then to Azerbaijan, and then to Iran."
Although its part of the railroad is not complete, Iran has guaranteed to carry the shipments via road where railway is not ready, Ashouri explained.
http://www.azernews.az/business/105646.html
Iran, Azerbaijan and Georgia are carrying out a plan to make operational a long-overdue corridor that will carry shipments from the Black Sea – between Eastern/Southeastern Europe and Western Asia – to the Persian Gulf in the southeastern Middle East.
The announcement was made by Deputy Head of the Islamic Republic of Iran Railway Company for Operation Affairs Hossein Ashouri in an interview with Trend at the International Rail Business Forum on "Strategic Partnership 1520: The Caspian Region" in Baku.
"The corridor has not been used since our railway was not complete. Now, however, Iran, Georgia and Azerbaijan are willing to run the route," he said.
"The sides have already reached agreements over the fare and also the time of the trip. We are hopeful to run the route in one month and take shipments to the Persian Gulf. The cargos will be carried from Romania to Georgia, then to Azerbaijan, and then to Iran."
Although its part of the railroad is not complete, Iran has guaranteed to carry the shipments via road where railway is not ready, Ashouri explained.
http://www.azernews.az/business/105646.html
Azeri440
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India to Launch Shipments to Russia Via North South Transport Corridor Soon
India, Russia, Iran, Azerbaijan agreed to use the International North-South Transport Corridor (INSTC) for combined shipments from India to Russia starting from December this year, Vice President of Iranian Railways Company Hossein Ashuri said.
He added that a test container train was shipped via the route two months ago. It took the train 22 days to reach its destination, however, the time of delivery is set to be later reduced to 19 days, Ashuri stressed.
The deliveries on the INSTC route will be carried out via the territories of India, the Persian Gulf, Iran Azerbaijan and Russia toward the Nordic countries and the Northern Europe in 14 days. Nowadays, the containers are shipped from Iran to Azerbaijan by trucks and then loaded onto trains heading to Russia.
The North-South Transport Corridor project aims to reduce the costs and the time of ship, rail and road deliveries to and from Russia, India, Iran, Azerbaijan and other countries located along the route.
https://sputniknews.com/world/201611291047952232-india-iran-azerbaijan-railway/
the source fails to mention that the new railway link between Iran and Azerbaijan is how they will reduce shipping to Europe to only 14 days.
India, Russia, Iran, Azerbaijan agreed to use the International North-South Transport Corridor (INSTC) for combined shipments from India to Russia starting from December this year, Vice President of Iranian Railways Company Hossein Ashuri said.
He added that a test container train was shipped via the route two months ago. It took the train 22 days to reach its destination, however, the time of delivery is set to be later reduced to 19 days, Ashuri stressed.
The deliveries on the INSTC route will be carried out via the territories of India, the Persian Gulf, Iran Azerbaijan and Russia toward the Nordic countries and the Northern Europe in 14 days. Nowadays, the containers are shipped from Iran to Azerbaijan by trucks and then loaded onto trains heading to Russia.
The North-South Transport Corridor project aims to reduce the costs and the time of ship, rail and road deliveries to and from Russia, India, Iran, Azerbaijan and other countries located along the route.
https://sputniknews.com/world/201611291047952232-india-iran-azerbaijan-railway/
the source fails to mention that the new railway link between Iran and Azerbaijan is how they will reduce shipping to Europe to only 14 days.
Azeri440
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Azerbaijan, EU to start talks on visa-free regime
After the agreement on simplification of visa regime with the EU is successfully implemented, Azerbaijan will request an action plan for a visa-free regime with Europe, Azerbaijan’s Deputy Foreign Minister Mahmud Mammad-Guliyev told Trend.
He said that Azerbaijan and the EU are successfully implementing the agreement on simplification of the visa regime.
Agreement on simplification of the visa regime between EU and Azerbaijan entered into force Sept. 1, 2014.
"Azerbaijan and the EU signed two agreements on visa facilitation and readmission, and as far as I know, Azerbaijan has no serious violations," said the deputy foreign minister. "There are very few migrants in the EU from Azerbaijan, at least in comparison with other countries. If all goes well, the next stage of the implementation of the visa-free regime between the EU and Azerbaijan will begin."
He said that the most important thing for Azerbaijan is the exact fulfillment of all obligations under the agreement, in order to have arguments to request an action plan for implementation of the next stage of the agreement.
The deputy foreign minister noted that currently, the visa-free regime between Azerbaijan and the EU is applied only those with diplomatic passports.
Mammad-Guliyev went on to add that the Brexit won’t affect future negotiations between the EU and Azerbaijan on a new strategic agreement.
en.trend.az/azerbaijan/politics/2692781.html
After the agreement on simplification of visa regime with the EU is successfully implemented, Azerbaijan will request an action plan for a visa-free regime with Europe, Azerbaijan’s Deputy Foreign Minister Mahmud Mammad-Guliyev told Trend.
He said that Azerbaijan and the EU are successfully implementing the agreement on simplification of the visa regime.
Agreement on simplification of the visa regime between EU and Azerbaijan entered into force Sept. 1, 2014.
"Azerbaijan and the EU signed two agreements on visa facilitation and readmission, and as far as I know, Azerbaijan has no serious violations," said the deputy foreign minister. "There are very few migrants in the EU from Azerbaijan, at least in comparison with other countries. If all goes well, the next stage of the implementation of the visa-free regime between the EU and Azerbaijan will begin."
He said that the most important thing for Azerbaijan is the exact fulfillment of all obligations under the agreement, in order to have arguments to request an action plan for implementation of the next stage of the agreement.
The deputy foreign minister noted that currently, the visa-free regime between Azerbaijan and the EU is applied only those with diplomatic passports.
Mammad-Guliyev went on to add that the Brexit won’t affect future negotiations between the EU and Azerbaijan on a new strategic agreement.
en.trend.az/azerbaijan/politics/2692781.html
xenon54 out
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We couldnt maybe you can.Azerbaijan, EU to start talks on visa-free regime
After the agreement on simplification of visa regime with the EU is successfully implemented, Azerbaijan will request an action plan for a visa-free regime with Europe, Azerbaijan’s Deputy Foreign Minister Mahmud Mammad-Guliyev told Trend.
He said that Azerbaijan and the EU are successfully implementing the agreement on simplification of the visa regime.
Agreement on simplification of the visa regime between EU and Azerbaijan entered into force Sept. 1, 2014.
"Azerbaijan and the EU signed two agreements on visa facilitation and readmission, and as far as I know, Azerbaijan has no serious violations," said the deputy foreign minister. "There are very few migrants in the EU from Azerbaijan, at least in comparison with other countries. If all goes well, the next stage of the implementation of the visa-free regime between the EU and Azerbaijan will begin."
He said that the most important thing for Azerbaijan is the exact fulfillment of all obligations under the agreement, in order to have arguments to request an action plan for implementation of the next stage of the agreement.
The deputy foreign minister noted that currently, the visa-free regime between Azerbaijan and the EU is applied only those with diplomatic passports.
Mammad-Guliyev went on to add that the Brexit won’t affect future negotiations between the EU and Azerbaijan on a new strategic agreement.
en.trend.az/azerbaijan/politics/2692781.html
OguzSenturk
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It doesnt really matter if we are being ruled by Hezbollah/ISIS/Gandhi/Atatürk/George Washington etc. They will not let us in since we are Turks.
Azeri440
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We couldnt maybe you can.
nah, they are trying to prop up the aviation industry
in few years Azerbaijan will start assembly of both cargo and civilian planes, so they need to now develop an internal market for those planes thus the development of tourism.
Azeri440
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First Azerbaijani owned foreign port begins operating this week, with initial capacity of 800 000 TEU, which will be increase to 1.5 mil TEU, making it the largest port on Turkish Aegean side
http://www.hellenicshippingnews.com/petlim-container-port-to-be-commissioned-this-week/
http://www.hellenicshippingnews.com/petlim-container-port-to-be-commissioned-this-week/
Azeri440
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OGPC is the biggest petro-chemical project in the country. Together with Petkim and projects in Azerbaijan, SOCAR will become one of the biggest companies in petro-chemical industry.
SOCAR GPC to end issue of financing OGPC by late 2017
SOCAR GPC, wholly-owned by Azerbaijan's state-owned oil firm SOCAR, intends to close the issue of financing the project on creation of Gas Processing and Petrochemical Complex (GPC) by late 2017, the company reported.
The company will be engaged in the development, design, construction, financing and operating activities of the new gas processing and petrochemical complex, whose capacity is about 10 billion cubic meters of gas per year.
Within the complex construction of a stream cracker with capacity of approximately 570,000 tonnes per annum of ethylene and 120,000 tonnes per annum of propylene and a swing LLDPE/HDPE polymerisation unit with a capacity of approximately 570,000 tonnes per annum and related infrastructure are planned.
The financing plan consists of a combination of equity, direct funding, export credit agency (ECA) coverd debt and commercial bank debt, primarily from Asian and European companies and institutions.
The engineering, procurement and construction (EPC) selection process is underway. Financial close is targeted for the end of 2017.
ING Bank, China Development Bank and Gazprombank have been mandated as co‐financial advisers. SOCAR intends to finance the project on a non‐recourse basis, and seeks to achieve financing terms and conditions standard for project financings of this type. V inson & Elkins is acting as the international legal adviser of SOCAR GPC with PSG Law Firm as Azerbaijani legal adviser.
http://www.azernews.az/oil_and_gas/106303.html
SOCAR GPC to end issue of financing OGPC by late 2017
SOCAR GPC, wholly-owned by Azerbaijan's state-owned oil firm SOCAR, intends to close the issue of financing the project on creation of Gas Processing and Petrochemical Complex (GPC) by late 2017, the company reported.
The company will be engaged in the development, design, construction, financing and operating activities of the new gas processing and petrochemical complex, whose capacity is about 10 billion cubic meters of gas per year.
Within the complex construction of a stream cracker with capacity of approximately 570,000 tonnes per annum of ethylene and 120,000 tonnes per annum of propylene and a swing LLDPE/HDPE polymerisation unit with a capacity of approximately 570,000 tonnes per annum and related infrastructure are planned.
The financing plan consists of a combination of equity, direct funding, export credit agency (ECA) coverd debt and commercial bank debt, primarily from Asian and European companies and institutions.
The engineering, procurement and construction (EPC) selection process is underway. Financial close is targeted for the end of 2017.
ING Bank, China Development Bank and Gazprombank have been mandated as co‐financial advisers. SOCAR intends to finance the project on a non‐recourse basis, and seeks to achieve financing terms and conditions standard for project financings of this type. V inson & Elkins is acting as the international legal adviser of SOCAR GPC with PSG Law Firm as Azerbaijani legal adviser.
http://www.azernews.az/oil_and_gas/106303.html
Azeri440
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Azerbaijan will reduce oil output by 35,000 barrels as part of deal with OPEC, Russia plans on reducing by 300,000 and Kazakhstan by 50,000, among other countries
http://news.day.az/economy/849204.html
Azerbaijan plans on spending 27 billion manats on non-oil economic projects for the next 7 years, meanwhile spending more than $50 billion on petro-chemical industry and gas industry
abc.az/rus/news/main/100700.html
http://news.day.az/economy/849204.html
Azerbaijan plans on spending 27 billion manats on non-oil economic projects for the next 7 years, meanwhile spending more than $50 billion on petro-chemical industry and gas industry
abc.az/rus/news/main/100700.html
Azeri440
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SOCAR already bought their terminal in Petkim peninsula, their station network is next.
boggles my mind how SOCAR manages all these developments, despite low oil prices.
what
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I guess they made enough profit in the time before the prices dropped.
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