Azerbaijan

Russia, Azerbaijan and Iran agree to develop a feasibility study of power grid connection project

Azerbaijan and Iran have signed an agreement on joint development of a feasibility study of a project to create a North - South energy corridor between the power systems of 3 countries.

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In January-July, Azerbaijan exported oil for $9.5 billion, gas - for $1.26 billion

In January-July 2019, export of declared oil from Azerbaijan amounted to 19 554.245 thousand tons, the State Customs Committee reported.

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Azerbaijan increased electricity exports by 9.4% in January-July

Azerbaijan exported 1 319 123.98 thousand kWh of electricity in January-July 2019, the State Customs Committee informed.

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Turkish Stream project can be connected to TAP

The Turkish stream project may be connected to the Trans-Adriatic pipeline (TAP) in the future. This was reported by Sberbank’s senior analyst for the oil and gas sector Andrei Gromadin.

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SOCAR increased investments in Petkim in the first half of 2019 by 32.7%

SOCAR increased investments in Petkim by 32.7% in the first six months of 2019.

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Since 2007, Azerbaijan’s income from gas sales from Shah-Deniz field is over $2.7 billion

The State Oil Fund of Azerbaijan’s revenues from sale of profitable gas from the Shah-Deniz field in the period of January-July 2019 amounted to $197 million.

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The Caspian countries set a goal to increase commodity turnover.

The ministers of economics of the Caspian Five countries (Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan) agreed to prepare a plan for enhancing economic cooperation in the region, the goal

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SOCAR plans to lay Foundation of petrochemical complex Mercury in Turkey in the first half of 2020

SOCAR Turkey Enerji (subsidiary of SOCAR) plans to lay foundation of petrochemical complex Mercury in Turkey in the first six months of 2020, head of SOCAR Turkiye Enerji Zaur Gakhramanov said.

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SOCAR AQS starts drilling of new wells at West Absheron

SOCAR AQS, a subsidiary of SOCAR, has started drilling of well №65 with a drilling depth of 850 meters on the offshore fixed platform №10. This was announced by SOCAR AQS.

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Azerbaijan exports 769.90 million cubic meters of gas to Turkey in May.

Azerbaijan exported 769.90 million cubic meters of gas to Turkey in May 2019. Compared to the same period last year the indicator increased by 28.04%.

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