Weekly review of main events in Azerbaijan’s energy market

Energy Materials 5 September 2022 09:11
Baku, Azerbaijan Trend News Agency
Weekly review of main events in Azerbaijan’s energy market

Last week, Azerbaijan and Uzbekistan signed a roadmap in energy field, Trend reports.

Among the priority areas of multidimensional cooperation are the liberated territories of Azerbaijan and 'green energy'.

Besides, bp as operator of the Shah Deniz field development project said that the planned maintenance program (turnaround - TAR) on the Shah Deniz Alpha platform and Shah Deniz 1 facilities inside the Sangachal Terminal has been fully completed.

In addition, last week SOCAR State Oil company of Azerbaijan will transfer a number of its existing processing enterprises to the management of SOCAR Downstream Management. According to the information, the transfer of Azerikimya carbamide plant, methanol production plant, SOCAR Polymer gas processing plant and some other enterprises is expected.

This process is carried out on the basis of the principle of 'vertical integration' in order to strengthen management mechanisms, create a unified technological process and competitive products.

Thus, as a result of integrating SOCAR oil refining and petrochemical enterprises with SOCAR Downstream Management, it's expected to strengthen organizational activities, optimize costs and increase revenues.

Meanwhile, Azerbaijan and Bulgaria are discussing the possibility of supplying additional amounts of gas.

Azerbaijan’s Tariff (Price) Council made an internal change to the price chain of RON-92 gasoline and diesel fuel, while producer tariffs have been reduced to higher amounts of excise duties, and wholesale tariffs are maintained at current levels.

Central and Eastern Europe countries are interested in long-term contracts with Azerbaijan for natural gas supplies.

Last week, the finishing work within the commercial launch of the Greece-Bulgaria Interconnector (IGB), which provides for the transportation of Azerbaijani gas, are proceeding in accordance with the established schedule.

Moreover, Azerbaijan is researching the potential for production of hydrogen, its application, as well as forming proposals on pilot projects in this area.