Azerbaijan's state-owned oil and gas producer Socar sees current oil prices as satisfactory for midterm planning, Deputy Vice President of Socar Vitaly Baylarbayov told S&P Global Commodity Insights June 20.
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As part of the EU’s Green Week 2023, the Sustainable Energy Hub brought together in Brussels decision makers from Azerbaijan, the European Union and beyond.
The new gas-supply MoU seeks also to use the Trans-Balkan Pipeline (TBP) in south-to-north “reverse flow” as the primary conduit for gas deliveries to the countries concerned, now that Russia’s Gazprom has ceased to use the pipeline.
Partnership, search for joint projects should develop for the benefit of Türkiye, Azerbaijan, says Turkish Petroleum Corporation.
President says agreement between Azerbaijan, Georgia, Hungary and Romania will become global project
The green energy agreement between Azerbaijan, Georgia, Hungary, and Romania will become a global project and attract more countries and companies, President of the Republic of Azerbaijan Ilham Aliyev said at the
Azerbaijan has adjusted its foreign policy agenda to target the Balkan region that is more vulnerable to the energy crisis than the states of Central and Western Europe.
On Wednesday (10 May), KazTransOil, the national oil transporter of Kazakhstan, announced a substantial increase in oil exports via Aktau Port to Baku, Azerbaijan.
Acting Minister of Economy Karel Hirman signed a memorandum of understanding between gas carriers Bulgartransgaz, Transgaz, FGSZ, eustream and SOCAR in Sofia, Bulgaria.
Azerbaijan, Bulgaria, Hungary, Romania and Slovakia have signed a memorandum of understanding on the supply of Azerbaijani natural gas to Central Europe through the so-called Solidarity Ring, Minister of Foreign Affairs and Trade Péter Szijjártó said in Sofia, Bulgaria, on Tuesday.
The agreement is part of the Solidarity Ring (STRING) initiative, proposed by Bulgaria and supported by the European Commission, to improve the security of natural gas supplies to the European Union.
The President of the Republic of Azerbaijan, Ilham Aliyev, and the President of the Republic of Bulgaria, Rumen Radev, attended the opening ceremony.
The five-year agreement on annual transit of 1.5 million tons of oil via the Aktau-Baku-Ceyhan route was signed between JSC NC KazMunayGas and Azerbaijan’s SOCAR at the end of 2022.
Kazakhstan's Kazmortransflot is going to buy two 8,000 DWT oil tankers to operate in the Caspian Sea this year. It needs these vessels to increase oil deliveries through Azerbaijan bypassing Russia, Kommersant reports.
The contract signed between the State Oil Company of Azerbaijan (SOCAR) and the Romanian Romgaz S.A. on the supply of Azerbaijani gas to Romania from April 1, 2023, to April 1, 2024, has entered into force.
Kazakh infrastructure provider KazTransOil has shipped a cargo of nearly 10,000 mt of Tengiz crude oil across the Caspian Sea for transit through the Baku-Tbilisi-Ceyhan (BTC) pipeline, with Tengiz shipments through the route expected to rise to 125,000 mt in April, it said March 27.
Along with forming the legal basis for green energy development, Azerbaijan has also started implementing various related projects with foreign companies.
MOL states that oil will be transported from the Sangachal terminal near Baku to Ceyhan via the BTC pipeline, in which the MOL Group has an 8.9 percent ownership stake.
Energy security has been a buzz word in Brussels for a few decades but since Russia’s invasion of Ukraine, followed by sanctions, Russian gas cut-off and physical destruction of North Stream pipelines, forecasts on strained EU energy production due to drought, the stakes have gotten much higher.
Azerbaijan plays an important role in diversifying the European Union's natural gas supply routes and strengthening Europe's energy security, President Egils Levits said during a meeting with Azerbaijani President Ilham Aliyev in Baku today.
Speaker of the Chamber of Deputies Marcel Ciolacu is paying an official visit on Monday and Tuesday to the Republic of Azerbaijan, at the invitation extended by Azerbaijani Speaker of the National Assembly Sahiba Gafarova.
Since the war erupted in the Ukraine, Europe faced a grave energy crisis. Prior to Russia’s invasion of the Ukraine, Russia was Europe’s largest supplier of natural gas.
Parviz Shahbazov, Minister of Energy of Azerbaijan, said his country and the UAE share deep-rooted relations, most notably in the energy sector.
Janub Thermal Power Plant covers 30 percent of Azerbaijan’s electricity requirements: Plant Director
Jabir Yusifov, Director of the Janub Thermal Power Plant, Azerbaijan stressed that the plant covers over 30 percent of Azerbaijan’s electricity requirements, with a total production capacity of 780 megawatts (MW).
Oil shipments via the Baku-Tbilisi-Ceyhan pipeline have been postponed, since the earthquakes in Türkiye damaged the Ceyhan terminal, Director General of Tengizchevroil Kevin Lyon said at a briefing today, Kazinform reports.
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