BAKU, Azerbaijan, Nov.11
By Fidan Babayeva - Trend:
The development of a large gas project has advanced in Azerbaijan in 2020, Trend reports with reference to the report of the State Statistics Committee.
The European segment of the Southern Gas Corridor, the Trans-Adriatic Pipeline (TAP), was connected to the Trans-Anatolian Gas Pipeline (TANAP) on the Turkish-Greek border in November 2019.
"The first gas supplies from the Azerbaijani Shah Deniz gas field to Europe via TAP are expected by the end of 2020. The project will almost triple the annual gas production capacity in Azerbaijan," the report said.
"The authorities initiated reforms to improve the management of state-owned enterprises. Recognizing the costs of poor management, especially in the face of budget tightening as the pandemic developed, in August 2020, the authorities established a public company Azerbaijan Investment Holding to manage state-owned enterprises," the European Bank for Reconstruction and Development (EBRD) said.
The creation of the company is aimed at increasing the efficiency and transparency of the activities of state-owned enterprises under its auspices. The holding's management structure and the list of public companies have not yet been determined.
The EBRD is a leading investor in Azerbaijan and has so far invested about €3.3 billion in various sectors: energy, infrastructure, banking, industry, and commerce.
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