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Azerbaijan, Croatia to promote economic cooperation

Business Materials 6 November 2012 15:00
Azerbaijan and Croatia are interested in establishing or promoting cooperation in different spheres of economy, such as energy, tourism and transport, Embassy of Azerbaijan in Zagrev reported on its official website.
Azerbaijan, Croatia to promote economic cooperation

Azerbaijan, Baku, Nov. 6 / Trend A.Badalova /

Azerbaijan and Croatia are interested in establishing or promoting cooperation in different spheres of economy, such as energy, tourism and transport, Embassy of Azerbaijan in Zagrev reported on its official website.

According to the report, in Zagreb the Azerbaijani delegation, headed by Economic Development Minister Shahin Mustafayev, held separate talks with Croatian Prime Minister Zoran Milanovic, First Deputy Prime Minister and Economy Minister Radimir Cacic, and Maritime Affairs, Transport and Infrastructure Minister, Sinisa Hajdas Doncic.

According to Cacic, the sides discussed areas of possible cooperation, including railways, participation in natural gas transport corridors, tourism and energy projects.

Azerbaijani delegation haы been presented with an investment opportunity for an LNG terminal at Omisalj on the northern Adriatic island of Krk.

Cacic said that also the sides discussed cooperation in the construction of an Adriatic-Ionian natural gas pipeline that would be connected to the Trans-Adriatic Pipeline (TAP) and would ensure a new source of Caspian gas for Croatia.

TAP is designed to transport gas from the Caspian region via Greece and Albania and across the Adriatic Sea to southern Italy and further into Western Europe. Gas to be produced within the second phase of Azerbaijani Shah Deniz gas condensate field development is considered as the main source for TAP. The current shareholders of TAP project are EGL of Switzerland (42.5 percent), Norway's Statoil (42.5 percent) and E.ON Ruhrgas of Germany (15 percent).

Cacic said that the Azerbaijani delegation would also be presented with details of 15 energy projects worth a total of HRK 4 billion and possibilities of investment in tourism projects.

Mustafayev stressed the need to diversify the economic cooperation between the two countries, noting that Croatia is attractive for investments because of its geopolitical position and forthcoming accession to the EU.

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