Energy Outlook for Asia and Pacific through 2035 published by the Asian Development Bank promises nothing good to the alternative in Azerbaijan.
According to the ADB Outlook, the alternative energy will ensure a minor increase in the share of new and renewable energy in the alternative case at 0.6% in 2035, in contrast to BAU at 0.1% in the same year.
The installed capacity for wind energy may stay at 106 MW. In the alternative case, Azerbaijan’s electricity generation in 2035 will be about 12% lower at 33.9 TWh in 2035, compared with that of BAU at 38.5 TWh.
At that, the domestic energy sector will remain “gas”: electricity generation in the alternative case is almost identical to that of BAU in 2035, with a slight contraction of the natural gas share in 2035 at 90.5% compared with BAU at 91.8%.
The Bank points out that the projects are currently curtailed by limited financial availability. Because of the country’s cost competitiveness in hydrocarbon resources, prospects for introducing more new and renewable energy sources are low, even in the alternative case.—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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