Possibly today Azerbaijan and Georgia will sign a new agreement on purchase-sale of natural gas, a source from the State Oil Company of Azerbaijan (SOCAR) told Turan.
SOCAR’s top managers have already departed to Tbilisi to familiarize themselves with the last draft of the agreement, which has been a subject of negotiation of the experts on the both sides in the past several weeks.
Last week Georgia Energy Minister Mariam Valishvili said that Georgia has been working with Azerbaijan on certain conditions of the contract, which have to be revised. She added that the price policy and certain volumes will be revised in the new contract.
As Turan has found out, the new agreement will have no fixed gas prices. Gas price will be set on the basis of the formula every quarter. Gas price will be tied up to price of oil and black oil.
* Azerbaijan started gas export to Georgia since January 2007, when Russian Gasprom company doubled the price. Last year Azerbaijan exported 2.1 bcm of gas to the Georgian market, of which 1.3 bcm was SOCAR’s gas and 800 mcm was gas of the Shah Deniz consortium.—0—
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review