Last week review (June 25-30)

June 25

SOCAR implements works in frame of creation new center for recycling

State Oil Company of Azerbaijan (SOCAR) is working on the definition of processing technologies and equipment in the frame of creation a new center for recycling and waste management of SOCAR. Earlier, an American company MI-LLC has prepared and submitted feasibility study (FS) of the center construction for recycling and waste management to SOCAR. A working group composed of SOCAR Environmental Office and Ekol mihendislik xidmetleri, in which SOCAR has equity participation, was created to select effective methods of center control.

June 26

Azerbaijan, Turkey sign agreement on TANAP gas pipeline

Azerbaijan and Turkey signed an intergovernmental agreement on implementation of Trans-Anatolian (TANAP) gas pipeline. The document was signed by Azerbaijani President Ilham Aliyev and Turkish Prime Minister Recep Tayyip Erdogan. In December 2011, Azerbaijan and Turkey signed a memorandum of understanding to establish the consortium that will build a gas pipeline to supply gas from Shah Deniz gas field to Europe through Turkey. BOTAS has a 20 per cent stake in TANAP, while SOCAR holds 80 per cent in the project. The initial capacity of the pipeline will be 16 billion cubic meters. Some 6 billion cubic meters of the volume will be supplied to Turkey, while the rest will be transported to Europe.

June 27

Data processed from perspective offshore structure in Azerbaijan

Operations are underway to process data obtained during the three-dimensional geophysical studies on the prospective structure of Babak in the Azerbaijani sector of the Caspian Sea. A 3D-seismic survey was conducted in the Babak structure of the Azerbaijani sector of Caspian Sea upon Azneft production association's order. At present, the work is underway to process the obtained materials. Work on the contract area was carried out from the geophysical vessel Gilavar by Caspian Geophysical. The structure at Babek is located not far from the Umid field. SOCAR has repeatedly stated that it was going to carry out work on the structure independently. Estimated reserves of the Babak structure stand at 400 billion cubic meters of gas and 80 million tons of condensate.

Azerbaijan to commission modern petrochemical laboratory

The Azerbaijani State Committee on Standardisation, Metrology and Patents is completing work on the creation of a new petrochemical laboratory. It is located in the city of Sumgait (35km from Baku). The laboratory will be equipped with the latest equipment, technologies and reagents. It will employ qualified professionals who will constantly improve their skills by training and in courses. n particular, research on black and light oil products, as well as conducting various types of analyses, including spectral, can be done at the laboratory. This laboratory is needed to improve the quality of petrochemical products produced in the republic and enhance their competitiveness in international markets, head of the State Committee Ramiz Hasanov said earlier. Azerbaijan has two oil refineries and one gas processing plant, as well as enterprises producing chemical products, owned by the Azerkimya production union. In the long term it is planned to create a large processing complex which will unite the refineries, gas processing plant and factory for the production of petrochemical products that will meet all environmental standards.

Azerbaijan adopts rules for placing draft documents at e-government portal

The Azerbaijani government has approved rules for placing draft of normative legal acts of the Cabinet and central executive bodies for further public and professional discussion on the electronic government portal. According to established rules, the Ministry of Communications and Information Technologies of Azerbaijan is charged within one month to provide the technical capability for placing documents on the portal of the Cabinet and central executive bodies. The rules provide for the disclosure of draft regulations prepared by central executive bodies and ensuring their open discussion, including the provision of answers by owners to those who took part in the discussion. Drafts will be placed in a special section of the e-government portal. To discuss the regulations it's necessary to register on the portal. Documents placed on the portal, will be certified by digital signature. Discussion period of drafts can range from five to 10 days. Following the discussion, drafts will be removed from the portal. After making changes and amendments, drafts, according to the rules will be replaced on the portal. All information will be archived and the list stored on site.

Azerbaijani, Portuguese business structures sign memorandum

AZPROMO and the Portuguese Agency for Foreign Trade and Investment (AICEP) have signed a memorandum of understanding during the Business Forum held in Baku on Wednesday. As Azerbaijani Deputy Economic Development Minister Niyazi Safarov stressed, the meeting will have a positive impact on the countries' economic development in the future. The forum is attended by about 20 Portuguese companies, representing the construction sector, the food and chemical industries, ICT and other spheres, as well as about 70 Azerbaijani companies. The Portuguese delegation was headed by Foreign Minister Paulo Portas. The business meeting was organized by AZPROMO.

June 28

Two agreements signed as part of Azerbaijani-Russian inter-regional forum

Two agreements were signed as part of the framework of the third Azerbaijani-Russian inter-regional forum Russian-Azerbaijani dialogue-2012, held in Baku. An agreement on the vesting of authority to the official dealer of the Agasa company in an investment agreement to build a plant Matanat-A in the Krasnodar region was signed. The document was signed by president of the company which produces construction materials, Elkhan Bashirov and director of Agasa, Georgiy Agafonov. An agreement on mutual cooperation between St. Petersburg State University of Economics and Finance and the Azerbaijan State Economic University was also signed. The agreement was signed by Rector of the Russian university Igor Maksimtsev and Rector of Azerbaijan University Shamsaddin Hajiyev.

Azerbaijani, Russian transport ministries prepare several joint agreements

The Russian Transport Ministry stresses great success has been achieved in the Azerbaijani transport sector. The ministry is interested in Azerbaijan's experience in the construction of roads, Alat port and a new airport terminal, Russian Deputy Transport Minister Valery Okulov said at the third Russian-Azerbaijani inter-regional forum Russian-Azerbaijani dialogue-2012 in Baku. He said that today Russia faces the task of maximally using the country's transport capacity. The ministries of the two countries continue working to improve the legal framework for cooperation and preparing a number of joint agreements.

Azerbaijani-Russian relations reach strategic partnership level

Relations between Azerbaijan and Russia have reached a level of strategic partnership. Such a positive development is a priority of Azerbaijan's foreign policy, Azerbaijani Economic Development Minister Shahin Mustafayev said at the third Russian inter-regional forum 'Russian-Azerbaijani dialogue-2012' in Baku. "A perfect legal framework has been created for the development of these relations," he said. "The countries have signed over 100 agreements." He added that consistent growth of trade turnover between the countries has been recently observed. As of 2011 Russia ranked third in terms of trade turnover among Azerbaijan's trade partners. It was in first place among the countries exporting goods to Azerbaijan and in fourth place among the countries importing Azerbaijani products.

ITU proposes Azerbaijan to submit convention on global information security for discussion in UN

The International Telecommunication Union (ITU) made a proposal to the Azerbaijani Government which is a member of the UN Security Council, to submit a global convention on information security for discussion in the UN, Azerbaijani Minister of Communications and IT Ali Abbasov said on Thursday, addressing the first intergovernmental commission on trade and economic cooperation 'Estonia-Azerbaijan'. According to Abbasov, the ministry continues its joint work with the ITU in this regard. Today, such a convention - Convention on Cybercrime is valid in Europe. Azerbaijan also joined the convention. "But in this case, the ITU's proposal's question is about a global convention at a UN level," Abbasov said.

Azerbaijan to begin production of LED lamps

In the next few months, a solar panel production plant in Sumgait will begin production of energy-efficient LED lamps, Azerbaijani Deputy Industry and Energy Minister Natig Abbasov said in Baku during the roundtable "Joint energy projects with an emphasis on strengthening the strategic partnership between Russia and Azerbaijan." He said the plant for the production of solar panels was put into operation recently, and within one to two months it will begin production of LED lamps. Abbasov noted that currently one of the important directions of development in the energy sector is the alternative and renewable energy sources. "The alternative energy area is developing and it is paid great attention at the level of leadership," he said. In particular, according to the Deputy Minister, under the development of alternative energy a hybrid power plant with capacity of 5.5 MW was created in Gobustan region. Energy is produced by the regeneration of wind, solar and biomass energy.

June 29

Azerbaijani Association of Businessmen launches in Turkey

The Association of Businessmen of Azerbaijan in Turkey signed a memorandum of understanding for cooperation with the Azerbaijan-Turkish Businessmen Association, the department of Foreign Economic Relations of Turkey, National Confederation of Entrepreneurs (Employers) of Azerbaijan and the Azerbaijan Export and Investment Promotion Foundation (AZPROMO). Earlier, it was announced that the Association of Businessmen of Azerbaijan in Turkey, registered with headquarters in Istanbul in December last year, began its work. According to Azerbaijani Economic Development Minister Shahin Mustafayev, who addressed the launch event, the rapid development of Azerbaijan's economy has created good conditions for the growth of the country's financial opportunities and making investments in foreign countries. The purpose of establishing this organisation - Association of Azerbaijani Businessmen working in Turkey, is a more efficient method of addressing business related issues, enhancing the partnership of the Association members, creating new business relationships and exchange of information. In April 2011 Turkey hosted the founding meeting of the Azerbaijani Association of Businessmen. The initiative group of the Association includes the Heydar Aliyev Foundation's Office in Turkey, CJSC Azerbaijan Airlines (AZAL), SOCAR, Palmali Group Of Companies, Hazar Turizm Company and Farco Group. In general, the organisation brings together 16 bodies and companies. During the founding meeting, head of SOCAR office in Turkey, Seymur Agayev was elected chairman of the Association.

Azerbaijan, Estonia define priority areas for cooperation

Azerbaijan and Estonia have an opportunity to continue the cooperation in creating "electronic government", Azerbaijani Deputy Communications and IT Minister, Iltimas Mammadov said at the Estonian-Azerbaijani business forum in Baku. The development of information technology and satellite launch creates great opportunities for cooperation with other countries, including with Estonia. A good example of this cooperation is the creation of the most important link of "electronic government" - its electronic portal by the Estonian company Subernet together with local companies. Earlier, the first meeting of the intergovernmental commission was held, which is a good platform for the development of business relations. Various industrial sectors, including shipbuilding sector, are interesting areas for cooperation.

Weekly review of Azerbaijan's precious metals market
Weekly review of Azerbaijan's precious metals market
Azerbaijan's Anglo Asian Mining reveals revenue forecast for this year
Azerbaijan's Anglo Asian Mining reveals revenue forecast for this year
Azerbaijan's FM meets with EU Special Representative for South Caucasus (PHOTO)
Azerbaijan's FM meets with EU Special Representative for South Caucasus (PHOTO)
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