fetching latest news
News tagged in:
A new polymer plant has been constructed under SOCAR Polymer project in Sumgayit Chemical Industrial Park. This project strengthens the industrial potential of Azerbaijan, commented the Italian President while talking about the significance of the project during the inauguration of the same. Talking about the relations of Italy and Azerbaijan, he thanked SOCAR and Maire Tecnimont for the success of the project.
BP and its partners yesterday commenced operations at the $28-billion Shah Deniz 2 gas development in Azerbaijan. It is the origin of the Southern Gas Corridor to carry gas supplies into Europe and is being seen as a move to reduce Europe’s dependence on Russia. Shah Deniz is the largest gas discovery ever made by BP, in 1999. Shah Deniz 1, the first-phase of field development, began production in 2006.
A draft agreement has been discussed by Iran and Azerbaijan for cooperation to develop some oil blocks located in the Caspian Sea. The possible agreement can be a turning point in the ties between Iran and Azerbaijan. Both sides believe that this energy cooperation can be very promising in terms of wealth creation.