President Ilham Aliyev receives Minister of Investment, Industry and Trade of Uzbekistan [PHOTOS] AzerNews.Az
Day: May 21, 2024
A new stage of expansion of the capacity of the Greece-Bulgaria interconnector (IGB), a gas pipeline through which Azerbaijani natural gas is transported to Bulgaria, is launching, according to Azerbaijan in Focus, reporting Turan.
According to the ICGB pipeline Consortium, the IGB operator, all interested parties must submit registration documents by June 24 this year, and proposals for the mandatory expansion stage – from July 2 to July 12. The results of this stage will be announced in September.
Currently, the annual capacity of IGB is 3 billion cubic meters, but after completion of all procedures, it can be increased to 5 billion cubic meters.
The expansion of the IGB is a key element in Europe’s plans to diversify energy sources and reduce dependence on Russian gas. Azerbaijan has significant reserves of natural gas, and IGB plays an important role in delivering this gas to European markets. Thus, the expansion of the IGB will strengthen the energy security of Bulgaria and other countries of Southeastern Europe.
According to preliminary technical studies, ICGB expects an increase in the capacity of the gas pipeline from the fourth quarter of 2025 at the junction point in Stara Zagora and from the fourth quarter of 2026 at the junction point in Komotini.
It should be noted that the Greece-Bulgaria interconnector began commercial deliveries on October 1, 2022.
The Greece-Bulgaria Interconnector (IGB), a critical pipeline channeling Azerbaijani natural gas to Bulgaria, is poised for a significant expansion. This move aims to increase the pipeline’s capacity and bolster energy security in Southeastern Europe, reducing the region’s reliance on Russian gas.
The ICGB pipeline consortium, which operates the IGB, has announced that interested parties must submit registration documents by June 24 of this year. Proposals for the mandatory expansion phase are to be submitted between July 2 and July 12. The results will be disclosed in September.
At present, the IGB has an annual capacity of 3 billion cubic meters (bcm). Upon completion of the expansion procedures, this capacity is projected to rise to 5 bcm per year. This increase is seen as a strategic step in Europe’s broader efforts to diversify its energy sources.
Azerbaijan, with its substantial natural gas reserves, plays a pivotal role in supplying gas to European markets. The IGB, which began commercial deliveries on October 1, 2022, is integral to this supply chain. Expanding the IGB will not only enhance Bulgaria’s energy security but also benefit other countries in Southeastern Europe.
According to preliminary technical studies, the ICGB expects the expanded capacity to come online by the fourth quarter of 2025 at the Stara Zagora junction point, and by the fourth quarter of 2026 at the Komotini junction point. These enhancements are expected to solidify the IGB’s role as a key energy corridor in the region.
The expansion of the IGB is a cornerstone of Europe’s strategy to reduce dependency on Russian gas, a priority that has gained urgency in light of recent geopolitical tensions. By increasing the flow of Azerbaijani gas, the IGB not only diversifies supply sources but also stabilizes the energy market in Southeastern Europe.
The post Greece-Bulgaria: IGB expansion will increase the flow of Azerbaijani gas appeared first on Azerbaijan In Focus.
President of the Republic of Azerbaijan Ilham Aliyev visited the Embassy of the Islamic Republic of Iran in the country to offer his condolences over the tragic deaths of Seyyed Ebrahim Raisi, President of the Islamic Republic of Iran, Foreign Minister Hossein Amirabdollahian, and other accompanying individuals in a helicopter crash, according to Azerbaijan in Focus, reporting Trend.
The post President Ilham Aliyev visited Embassy of Iran in Azerbaijan, offered his condolences appeared first on Azerbaijan In Focus.
The coordination and cooperation among all member states of the Middle Corridor are essential, noted Irakli Danelia, Central Asia and Caucasus Region Business Development Manager at Maerks, according to Azerbaijan in Focus, reporting Trend.
“We welcome any initiative that promotes smooth coordination within the journey along the Middle Corridor. This will help streamline administrative and paper-based processes, reducing potential delays during cargo transit at border crossings and customs checkpoints in each country. As a multi-modal corridor, it is inherently complex. Therefore, any additional facilitation and simplification of processes will advance its development,” he said.
According to Danelia, simplifying these administrative procedures is crucial.
“Azerbaijan, Kazakhstan, and Georgia are actively working on improving the Middle Corridor. However, none of these countries can address issues independently. The Middle Corridor involves multiple countries, making coordination vital for achieving tangible results for the economic benefit of all,” he pointed out.
Maersk representative noted that the Middle Corridor will establish a strong position in the West-East and vice versa logistical system, facilitating seamless trade between regions.
“As a global logistics company, we are dedicated to supporting digitalization worldwide. Over the past two years, we have been actively integrating digital solutions into our platforms across different regions. Currently, we are focused on developing end-to-end solutions, meaning that we will handle cargo delivery from the origin of a product, e.g. a factory or farm, to its final destination, be it in Kazakhstan or any other Central Asian country. At Maersk, our focus is exclusively on delivering containerized cargo. Therefore, we collaborate with cargo owners, transport, and logistical companies locally to handle already containerized cargo. Additionally, we are actively encouraging exporters in the region to containerize and convert their bulk commodities, highlighting the advantages of containerization,” he concluded.
The post Maersk stresses need for simplified procedures, digitalization along Middle Corridor appeared first on Azerbaijan In Focus.
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NPR News: 05-21-2024 3AM EDT
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