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Azerbaijan exports over 8bcm of gas to Europe via TAP

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By Ayya Lmahamad

The Trans-Adriatic Pipeline (TAP), which is an extension of the Southern Gas Corridor that takes Azerbaijani natural gas to European markets, has transported 8.1 billion cubic meters of gas to Europe in 2021, the pipeline's operator TAP AG reported on the official Twitter page.

Of the total amount of transported gas, over 6.8 billion cubic meters reached Italy and approximately 1.2 billion cubic meters were delivered to Greece and Bulgaria.

Earlier, Azerbaijani President Ilham Aliyev in his interview stated that about 19 billion cubic meters of Azerbaijani gas will be exported in 2022. Of this volume, more than 8 billion cubic meters will be exported to Turkey and more than 7 billion cubic meters to Italy. The remaining gas will be divided between Georgia, Bulgaria, and Greece.

"In general, Azerbaijan is expected to produce 45 billion cubic meters of gas. As I mentioned, 19 billion will go to exports and the rest will be spent on re-injection into the oil fields to maintain domestic demand and reservoir pressure," he said.

To recall, Azerbaijan started commercial gas supplies to Europe through the Trans-Adriatic Pipeline (TAP) on December 31, 2020.

The pipeline is supplied by natural gas from the second stage of Azerbaijan’s Shah Deniz gas field development in the Azerbaijani section of the Caspian Sea through the South Caucasus Pipeline and the Trans-Anatolian Pipeline (TANAP). The initial capacity of the pipeline is about 10 billion cubic meters of natural gas per year, with the option to expand the capacity up to 20 billion cubic meters.

The Southern Gas Corridor is an initiative of the European Commission for a natural gas supply route from Caspian and Middle Eastern regions to Europe. The route from Azerbaijan to Europe consists of the South Caucasus Pipeline, TANAP and TAP.

Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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Analysis

Azerbaijan to simplify civil UAV registration procedures

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By Trend

The Ministry of Digital Development and Transport of Azerbaijan will simplify the procedures for registration of civil unmanned aerial vehicles (UAVs) this year, Deputy Minister Rovshan Rustamov said, Trend reports.

Rustamov made the remark at an event entitled "Priorities in the field of digital development and transport in Azerbaijan".

According to him, to simplify these procedures, it’s necessary to create an appropriate infrastructure to digitalize all processes.

"We want to make the process of registering UAVs as simple as possible. First of all, it’s necessary to take a step towards digital transformation," he noted. "Besides, in order to import these devices to Azerbaijan and register them, it’s needed to apply to nearly seven government agencies, three of which are subordinate to our ministry."

"The consent of third-party institutions is also required, and this takes about two-three months. Thus, we have already identified specific areas and steps that can contribute to the simplification of these procedures," the deputy minister further said.

"In this regard, we can talk about a project which will be created based on a single portal accepting online applications. This year, we plan to fully implement this process," added Rustamov.

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Analysis

CBA hold regular foreign currency auction

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By Trend

The Central Bank of Azerbaijan (CBA) held a regular currency auction with the participation of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) on Jan. 27, Trend reports referring to the CBA.

According to the CBA, the demand of local banks for foreign currency amounted to $84.2 million and was fully met.

The average weighted exchange rate of the manat to the US dollar amounted to 1.7 AZN/1 USD based on the results of the auction.

The CBA has begun to conduct foreign exchange auctions through a one-way sale of currency in a competitive environment since mid-January 2017.

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Finance Ministry to put up gov’t bonds for new auction

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By Trend

The Baku Stock Exchange (BSE) will hold an auction on the placement of Azerbaijani Finance Ministry’s medium-term government bonds worth 35 million manat ($2.9 million) on February 1, 2022, Trend reports via the BSE.

According to the exchange, bonds with a face value of 100 manat ($58.8) each with a maturity of 1,092 days and a yield of four percent will be put up for the auction.

Interest payment dates are set for August 2, 2022, January 31, 2023, August 1, 2023, January 30, 2024, July 30, 2024, and January 28, 2025 (the principal payment deadline).

Pasha Capital CJSC will be the underwriter of the placement.

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