39 documents are planned to be signed as part of making of a final investment decision on the Shah-Deniz Phase 2, which is expected on December 17, 2013, SOCAR President Rovnag Abdullayev told journalists on Tuesday.
He said specialists of the companies-partners have been preparing the required documents.
Cost of the Shah-Deniz-2 is estimated at $25 billion, reads the BP (technical operator) report about three quarter results. It is planned to extract the first gas from Shah-Deniz-2 in 2018.
It is planned to extract 16 billion cub.m. of gas during the field development, of which 6 billion cub.m. will be transported to Turkey and 10 billion cub.m. to Europe. About 360 billion cub.m. of gas is planned to be extracted during the entire period of the Shah-Deniz-2 development. The similar showing for the Shah-Deniz-1 is 178 billion cub.m.
The partners of the project are BP (operator) – 25,5%, Statoil – 25.5%, SOCAR – 10%, NICO – 10%, Total – 10%, LUKoil - 10 % and TPAO – 9%. The contract expires in October 2036.—0—
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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