Economic Development in Azerbaijan

[xenon54 out]

By building bloody hotels?

Tourism is also a branch of economy.

Take away the oil out of Azerbaijan they would be so poor it's embarrassing.
But hey. they are young. so its fine.

Well Azerbaijan needs the oil money to build up the state first, all it needs is determination in diversifying the economy, it makes me optimistic that they didnt wait too long to start projects, it will need another couple decades.

Besides Azerbaijan is also investing in oil funds for the future generations after the oil time, they do look forward instead of just wasting money on fancy things.

State Oil Fund of Azerbaijan

 

[Attila the Hun]

Tourism is also a branch of economy.

Yes it is.

 

[what]

I would not compare Azerbaijan with countries that had capitalism on their side for 80 years.

They are a former Soviet state and unlike most eastern European countries they did not have any external support in building their economy.

 

[Azeri440]

Does Azerbaijan produce anything else?

you can just go through the thread?

but anyway, Baku Shipyard just recently launched the biggest ship in the Caspian Sea

Azerbaijan will also become one of the smallest countries producing all forms of transportation from trains to mid-sized planes.

 

[Attila the Hun]

you can just go through the thread?

I already did. Not impressed.

Azerbaijan will also become one of the smallest countries producing all forms of transportation from trains to mid-sized planes.

Do you have a source, or am I suppose to just take your word for it?

 

[OguzSenturk]

Azerbaijan is in the right direction. Their future is so bright.

 

[Azeri440]

I already did. Not impressed.

soooooo, what would impress you?

Do you have a source, or am I suppose to just take your word for it?

Yep

Austria to establish light aircraft production in Ganja

http://ru.oxu.az/economy/188641

Azerbaijan and Russian to jointly establish regional helicopter maintenance center and aircraft production facility in Baku

http://oxu.az/economy/143229

Production of An-178 will be set up 12 to 15 aircraft per year.

http://military-informant.com/airfo...ve-novyih-transportnyih-samoletov-an-178.html

 

[KRAIT]

congats guys.

 

[Azeri440]

Israel wants to export gas together with Azerbaijan

The gas sector can become the main direction of cooperation between Azerbaijan and Israel.

Yesterday in Baku Israeli Prime Minister Benjamin Netanyahu stated that “we are talking not only about the sale of oil, supplied by Azerbaijan to Israel and which is the key part of our country’s oil import, but also about our joint ventures for export of natural gas”.

"Speaking here today, we’re talking about the connection of Israel’s gas import to a large pipeline from Azerbaijan to Turkey, the construction of which is ongoing. This is a direction which can undoubtedly strengthen the economy of both countries. I think this will be even a more important achievement," Netanyahu said.

http://abc.az/eng/news/100770.html

aside from economic benefit, the project would also strengthen Israeli and Turkish relations

@DavidSling @Mountain Jew

The deal is going through

Turkish energy minister ‘to visit Israel for pipeline deal’
http://www.timesofisrael.com/turkish-energy-minister-to-visit-israel-for-pipeline-deal/

Diamed Co becomes 3rd resident of Pirallahi Industrial Park

The Azerbaijani company, founded in April 2017, will set up production of disposable syringes in the Park.

The Economy Ministry reported that the plant will allow to meet demand of the domestic market, which will significantly reduce the import of disposable syringes, as well as create an export potential in this area.

"The plant, covering an area of one hectare, will produce 55-58 million syringes annually, based on advanced European, Japanese and Korean technologies. In the process of production, both imported and local raw materials will be used," the ministry said.

The factory plans to open 50 workplaces.

Currently, two joint pharma plants are being constructed in the Pirallahi Industrial Park.

The first plant is a joint venture with a group of companies R-Pharm (Russian Federation), Vita-A LLC (Azerbaijan) and AIC. The foundation of the Hayat Farm was laid in November 2016.

The total preliminary investment in the project exceeds $70 million. The plant should be producing finished products by the end of 2019.

The second pharmaceutical plant is Caspian Pharmed. The foundation of the joint pharmaceutical plant between Iranian company Tamin Pharmaceutical Investment Company (TPIC) and Azerbaijan’s Azersun Holding was held in January, 2017.

The project cost is more than $20 million. The joint plant is to be operational in summer in 2018 and in the first stage it will produce 84 medicines.

The Pirallahi Industrial Park was established by the order “On Establishment of Pirallahi Industrial Park” dated September 14, 2016 year of President Ilham Aliyev.

Minister of Economy Shahin Mustafayev previously said that $20.6 million will be invested in the Pirallahi Industrial Park’s Construction in the first stage.

Besides Pirallahi Industrial Park, Sumgayit, Garadagh and Balakhani Industrial Parks exist in the country, in Mingachevir and Ganja-are being constructed.

Investors, engaged in industrial parks, are exempted from the value added tax (VAT), customs duties, as well as contributions on compulsory state social insurance to 7 years.

https://www.azernews.az/business/116105.html

 

[Azeri440]

Israel to join TANAP

The decision was made after four stage negotiations.
According to the decision, a pipeline will be constructed from Leviathan gas field to Turkish coasts, then to TANAP.
The minister also noted that Israel is also planning to construct the second gas pipeline to Italy through Cyprus and Greece. Steinitz says Israel is capable of supplying gas to the both pipelines.

The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey. The gas to be produced as part of the Stage 2 of development of Azerbaijan’s Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline.

First gas transportation to neighbour country within TANAP will start in 2018. The planned capacity of the pipeline would be 16 billion cubic metres of natural gas per year at initial stage and would be increased later up to 23 billion cubic metres by 2023, 31 billion cubic metres by 2026.

1,802 km-TANAP will be linked to TAP from 2020 and deliver natural gas that will receive via South Caucasus Pipeline to Europe through Greece, Albania and Italy.

The pipeline is expected to cost US$9.2 billion. Azerbaijan will spend $6.1 billion.

TANAP shareholders: SOCAR - 58%, Botas – 30% and BP – 12%.

TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The approximately 878 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.

TAP’s shareholding is comprised of BP (20%), Southern Gas Corridor (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).

he Leviathan gas field is a large natural gas field located in the Mediterranean Sea off the coast of Israel. The gas field, located roughly 130 kilometres west of Haifa in waters, was discovered in 2010. The potential reserve size is being estimated at 500-600 bcm.

apa.az

@500 @DavidSling

 

[Azeri440]

Baku - Tbilisi - Kars Construction

 

[OguzSenturk]

Baku - Tbilisi - Kars Construction

This project took so long.. Hopefully it will get some share of EU-Asia trade. Even if this route gets %2 of EU-Asia trade, it means tens of billions.

 

[xenon54 out]

Israel to join TANAP

The decision was made after four stage negotiations.
According to the decision, a pipeline will be constructed from Leviathan gas field to Turkish coasts, then to TANAP.
The minister also noted that Israel is also planning to construct the second gas pipeline to Italy through Cyprus and Greece. Steinitz says Israel is capable of supplying gas to the both pipelines.

The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey. The gas to be produced as part of the Stage 2 of development of Azerbaijan’s Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline.

First gas transportation to neighbour country within TANAP will start in 2018. The planned capacity of the pipeline would be 16 billion cubic metres of natural gas per year at initial stage and would be increased later up to 23 billion cubic metres by 2023, 31 billion cubic metres by 2026.

1,802 km-TANAP will be linked to TAP from 2020 and deliver natural gas that will receive via South Caucasus Pipeline to Europe through Greece, Albania and Italy.

The pipeline is expected to cost US$9.2 billion. Azerbaijan will spend $6.1 billion.

TANAP shareholders: SOCAR - 58%, Botas – 30% and BP – 12%.

TAP will transport natural gas from the giant Shah Deniz II field in Azerbaijan to Europe. The approximately 878 km long pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.

TAP’s shareholding is comprised of BP (20%), Southern Gas Corridor (20%), Snam (20%), Fluxys (19%), Enagás (16%) and Axpo (5%).

he Leviathan gas field is a large natural gas field located in the Mediterranean Sea off the coast of Israel. The gas field, located roughly 130 kilometres west of Haifa in waters, was discovered in 2010. The potential reserve size is being estimated at 500-600 bcm.

apa.az

@500 @DavidSling

Well, well, well, seems like nothing is too holy when it comes to money.

 

[Azeri440]

Well, well, well, seems like nothing is too holy when it comes to money.

lets hope Turkmenistan is next to join

Ashgabat summit to determine fate of Trans-Caspian pipeline

The Trans-Caspian gas pipeline project is expected to be high on agenda during trilateral meeting of the leaders of Azerbaijan, Turkey and Turkmenistan due in Ashgabat before the end of the year.

Such an assumption was made by the expert Sabit Bagirov who believes that all three sides have their own interests in the implementation of this mega-project.

“Azerbaijan has transit interests in this project and Turkey is considered a hub-country, a leading gas power, while Turkmenistan hopes to expand the export opportunities of Turkmen gas supplies to the European market in order to replenish its own foreign exchange reserves. Thus, the practical interest of all the states in implementing this project is obvious,” he told Day.az.

At the same time, there are neighboring countries which are not interested in the implementation of this project, including Russia and Iran, as the Trans-Caspian gas pipeline might compete with the ambitious projects they implemented Bagirov noted. For instance, Russia supports Turkish Stream project, envisaging Russian gas supplies to Turkey and further to Europe.

There are also other obstacles remaining in place such as costs, competition from other projects, stagnating demand for gas in Europe, uncertainty about Turkmen supplies and undefined legal status of the Caspian Sea.

Therefore, the upcoming September meeting is expected to bring clarity to the project’s fate and demonstrate joint political will of Ankara, Baku and Ashgabat, expert said.

He also noted that the Trans-Caspian pipeline can be realized within the framework of the Southern Gas Corridor project, which involves the supply of gas from the Caspian region, in particular Azerbaijani gas, to Europe.

At the same time, the Trans-Caspian gas pipeline project is considered the best option for delivering energy resources from Turkmenistan, the world's fourth for gas reserves, to the European market.

The pipeline is supposed to be laid along the bottom of the Caspian Sea to the shores of Azerbaijan. Further on the existing infrastructure, Turkmen hydrocarbons can get to Turkey, which borders with European countries.

Trans-Caspian gas pipeline may be implemented as a part of huge Southern Gas Corridor project designed to transport gas from the Caspian region, in particular Azerbaijani gas to European countries.

A project to import natural gas from Turkmenistan through a subsea pipeline was suggested in 1996 by the United States. Negotiations on the Trans-Caspian gas pipeline between the EU, Azerbaijan and Turkmenistan began in September 2011.

Ashgabat undertook the initiative to host the talks because Turkmenistan stands for a balance of interests between producers, transit countries and consumers.

https://www.azernews.az/oil_and_gas/116399.html

 

[xenon54 out]

lets hope Turkmenistan is next to join

Would be a great.