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Trans Adriatic Pipeline: History, Significance, Opportunities

Groundbreaking ceremony for the Trans Adriatic Pipeline (TAP) will be held in Thessaloniki today. It is expected that the event will be attended by senior representatives of Azerbaijan, Greece, Georgia, Bulgaria and the European Commission, as well as representatives of shareholding companies of the project. History of the project TAP, which …

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Maros Sefcovic: Southern Gas Corridor is True Diversification Project

As the initiator of the biggest Southern Gas Corridor project, Azerbaijan has become a very important energy player at the regional and global levels, said Maros Sefcovic, vice-president of the European Commission for Energy Union. Sefcovic made the statement at the Greek Energy Forum in Thessaloniki, Greece. The vice-president stressed that …

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Oil Companies Propose to Mark Fueling Stations

Oil Companies Propose to Mark Fueling Stations

Oil importer companies in Georgia have proposed to mark fueling stations additionally to Eco Marking. The business sector has no remarks concerning the voluntary marking of fuel, but the regulations should be further tightened, Vano Mtvralashvili, head of the union of oil importers of Georgia, told the Business Contact. Companies …

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Georgia’s Joining Energy Community to Affect SOCAR Activities in Country

Georgia’s accession to the Energy Community will affect activities of the State Oil Company of Azerbaijan (SOCAR) in Georgia, the country’s Deputy Energy Minister Mariam Valishvili told Trend. Valishvili said that Georgia is currently holds talks regarding accession to the Energy Community, and in case of success the country must …

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World Bank to Allocate $1B for TANAP Construction

tanap-nabucco

The World Bank (WB) will provide $1 billion for funding of the construction project of the Trans-Anatolian Natural Gas Pipeline (TANAP), the Turkish newspaper Hurriyet reported. Besides the WB’s loan, it is expected that $1.07 billion will be allocated by the European Investment Bank (EIB), according to the newspaper. The …

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Shah Deniz 2 Project is Now Over 70% Complete

Shah Deniz

Shah Deniz Stage 2 project continued to move ahead with a number of milestones achieved ahead of schedule, BP Azerbaijan said. He made the remarks Apr. 25 at the SOCAR International Practical Conference on “Caspian Basin and Central Asia: Trade, Logistics, Oil Processing and Oil and Chemistry” in Baku. He …

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Over One-Third of TANAP Built – Consortium Head

Over one-third of the Trans-Anatolian gas pipeline (TANAP) has been built in Turkey, Saltuk Duzyol, head of TANAP consortium, was quoted April 21 by the Turkish The Lira newspaper as saying. He said that the welding work has been completed on a TANAP’s 440-kilometer-section. Duzyol said that the relevant contracts …

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Georgia Will Manage its First Ever Gas Storage

The oil well base territory of the southern arch of Samgori has been already selected for constructing an underground gas storage. The oil well base is capable for storing 210-280 million cubic meters of oil, i.e. 15% of the current total annualized consumption. According to preliminary estimations, the project’s investment …

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ADB Mulls $450 mln Loan for Shah Deniz II Gas Project

Shah Deniz

The Asian Development Bank (ADB) is considering a $450 million loan to Azerbaijan to help expand its Shah Deniz natural gas project, the bank said on Tuesday. Azerbaijan’s biggest gas field, Shah Deniz is being developed by BP, Azeri state energy firm SOCAR and others. It holds an estimated 1.2 …

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Iran-Russia Gas Swap Awaits Moscow’s Decision

Iran-Russia Gas Swap Awaits Moscow’s Decision

Iran, Russia gas swap remains as an idea at the moment, however Tehran is prepared for that, Hamid Reza Araqi, Iran’s deputy oil minister said. Iran and Russia’s Gazprom have held various talks on the issue in recent months, but no agreement has been reached so far, Araqi said, Fars …

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