The country has developed rapidly based on oil and gas revenues. But a new report says the country risks potential shocks if it continues to depend heavily on hydrocarbons.
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Azerbaijan’s state energy company Socar and France-based Technip Energies have joined forces to study sustainability measures in the offshore upstream activities, including evaluation of a joint pilot project for offshore floating wind.
The petroleum division on Monday said it did not avail the offer of Azerbaijan’s state-run company for import of liquefied natural gas (LNG) on credit because its price was ‘substantially expensive’ besides other challenges.
Azerbaijan State Oil Company (Socar) has expressed frustration over the Petroleum Division’s prolonged silence over its offer of providing two credit lines of over $220 million for oil and gas supplies to Pakistan.
The Bulgaria-Greece gas interconnector will be finalized until July 2022, so that gas from Azerbaijan will reach Romania, wrote, on Facebook, Energy Minister Virgil Popescu, Agerpres informs.
The European Commission has launched the second phase of its EU4Energy programme, which promotes low-carbon and clean energy transitions in the Eastern Partnership (EaP), a joint initiative involving the European Union, its Members States and six Eastern European Partners: Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.
The capacity of the pipeline is 16 billion m3, of which 10 billion is intended for Europe, 6 billion for Turkey. In the long run, the capacity of the pipeline will reach 24 billion m3/per year, and then - up to 31 billion m3.
The BP-led Shah Deniz consortium has started production from the East South flank at 540m water depth – the biggest milestone planned for the project this year.
Azerbaijan has a huge potential for renewable energy, Denis Shulakov, 1st Vice President of Gazprombank, Head of the Gazprombank's Capital Markets Block said, Trend reported.
Oil and gas will continue to dominate Azerbaijan’s economy in the medium term, but the outlook for its fossil fuel exports is uncertain due to major importers’ net zero commitments.
The U.S. Energy Information Administration has changed its forecast for Azerbaijan's average daily oil production for 2021-2022, Azernews analysed.
The Milli Mejlis, the Parliament of the Republic of Azerbaijan, adopted at the first reading the law 'On the Rational Use of Energy Resources and Energy Efficiency'.
The 4th Eco Energy Ministerial Meeting was held with the participation of Azerbaijan. The high-level representatives of the organization's member countries-Iran, Turkey, Turkmenistan, Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan, Afghanistan and a number of international organizations attended at the meeting.
Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of Azerbaijan (SOCAR), has secured a new contract valued at around $25 million to support the Azeri Central East (ACE) project operated by BP in Azerbaijan.
bp has let a contract to SOCAR Petrofac, a joint venture between State Oil Co. of Azerbaijan Republic (SOCAR) and Petrofac, to support the Azeri Central East (ACE) project in Azerbaijan.
Turkey’s natural gas costs are set to decrease, State Oil Company of the Azerbaijan Republic’s (SOCAR) Turkey CEO Zaur Gahramanov said Thursday as his company pledged to increase investments in the country.
Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of Azerbaijan (SOCAR), has secured a new contract valued at around $25 million to support the Azeri Central East (ACE) project operated by BP in Azerbaijan.
Turkish President Recep Tayyip Erdogan is reported to have made an offer to his Azerbaijani counterpart, Ilham Aliyev, to conduct joint drilling and exploration operations in Libya. The offer has apparently been accepted.
Azerbaijan may become one of the new sources of gas supplies to Ukraine in order to strengthen its energy security.
Turkish Petroleum Corporation (TPAO) and the State Oil Company of the Azerbaijan Republic (SOCAR) could work together in field development and production of Turkey's giant gas discovery in the Black Sea, Vagif Aliyev, deputy chairman of SOCAR Turkey told reporters.
Azeri oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey fell by 11.2% year on year to 11.1 million tonnes in the first five months of the year, the State Statistics Committee said on Wednesday.
Turkish and Azerbaijani energy companies are planning joint investments in nearby regions, an official said Wednesday, a day after President Recep Tayyip Erdoğan signaled such a move.
The Trans-Caspian Pipeline is intended to transport Central Asia’s vast natural gas resources to European energy markets via the Southern Gas Corridor. It stands to significantly change Central Asia and Europe’s energy map.
Saying that with the synchronization of Moghan power transmission lines to the electricity network of the Republic of Azerbaijan, the import of electricity from this country began, he added "Currently, 73 megawatts (MW) of electricity is injected from this transmission line to the internal network of Iran."
