BAKU, Azerbaijan, August 20. A news was released this week that a road map to expand cooperation and develop new project initiatives in the field of green energy will be signed between the ministries of energy of Azerbaijan and Uzbekistan in September 2022, Trend reports.
Besides, an agreement was reached on the participation of the State Oil Company of Azerbaijan (SOCAR) in major projects in the chemical industry of Uzbekistan.
It was agreed to participate in a project of organization of propylene production from methanol in the Navoi region of Uzbekistan (the project cost is $1.3 billion), the second and third stages of the creation of a complex for the production of PVC and caustic soda in the Kungrad region of Uzbekistan’s Karakalpakstan Republic (the project cost is $1.28 billion). It's also planned to jointly produce acetic acid with Uzbekistan's Navoiazot JSC (the project cost is $120 million).
It was noted that by September, Uzkimyosanoat JSC is expected to provide information about the project, including a financial model and a feasibility study.
Besides, State Oil Company of Azerbaijan (SOCAR) and Fortescue Metals Group, a global leader in the iron ore industry from Australia, have discussed future cooperation possibilities.
Bulgaria’s Energy Minister Rosen Hristov said this week that the deadline for commercial quantities of gas to be released through the new interconnector Greece-Bulgaria is October 1, 2022.
Meanwhile, Deputy Prime Minister of the Republic of Serbia and Minister of Mining and Energy Zorana Mihajlovic said that Serbia is in talks with Azerbaijan on early signing of a gas supply contract.
According to Mihajlovic, Serbia wants to connect to more countries for gas supply diversification.
She also noted that the construction of the gas interconnection Serbia-Bulgaria, with a capacity of 1.8 billion cubic meters of gas, is of strategic importance to us because it will make it possible for us to connect to the gas pipelines in the Southern Corridor via Bulgaria and Greece and have the possibility to acquire gas from Azerbaijan and the Caspian region, LNG terminals in Greece, as well as other sources in the Middle East.