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Tag Archives: Azerbaijan

Iran-Azerbaijan Railway Cooperation to Work Out Soon

Iran-Azerbaijan Railway Cooperation to Work Out Soon

In the coming months, Iran and Azerbaijan are expected to launch transporting goods and cargos through the International North-South Transport Corridor, a grand project that will intricately interconnect Europe and Asia. Tehran and Baku are apparently making efforts to boom trade turnover, which surged by 78 percent to reach $221.2 …

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SOCAR Increases Share in its Georgian Subsidiary

SOCAR Increases Share in its Georgian Subsidiary

Azerbaijan’s state oil company SOCAR increased its share in the authorized capital of SOCAR Energy Georgia Ltd. (its Georgian subsidiary) from 51 percent to 67.34 percent, according to the SOCAR’s consolidated financial statements for 2016 audited by the London-based Ernst & Young company. SOCAR paid 58 million manats ($34 million) …

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EIB Appraising TAP, TANAP Projects for Financing

The European Investment Bank (EIB) is currently appraising the Trans Adriatic Pipeline (TAP) and Trans Anatolian Natural Gas Pipeline (TANAP) projects and will carefully review all the relevant issues as part of its usual due diligence procedures, a source in EIB told Trend. “As for all the projects that it …

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TAP to Ensure More Sustainable Energy Future for Europe

TAP to Ensure More Sustainable Energy Future for Europe

The Trans Adriatic Pipeline (TAP) project, which envisages delivery of Azerbaijani gas to Europe, will ensure a more sustainable energy future for this continent, said the country manager of TAP AG consortium for Greece Rikard Scoufias. He pointed out South-Eastern Europe is a region that could benefit most from the …

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Kazakhstan Keen to Increase oil Transportation Through Azerbaijan

Kazakhstan Keen to Increase oil Transportation Through Azerbaijan

Kazakh national oil transportation company KazTransOil is conducting work to increase oil transportation through Azerbaijan via railway for further loading of the Batumi oil terminal on the Black Sea coast of Georgia, Kazakhstan’s Energy Ministry told Trend. The Batumi oil terminal is fully owned by KazTransOil. According to the ministry, …

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EBRD Pushes on With Azerbaijan Gas Loan After Transparency Rift

EBRD Pushes on With Azerbaijan Gas Loan After Transparency Rift

The European Bank for Reconstruction and Development is pushing ahead with plans to lend $500 million to Azerbaijan’s Southern Gas Corridor project after the nation was suspended from an international oil-wealth transparency watchdog. The development bank is “progressing” its financing to the $40 billion pipeline project with a final board decision expected …

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