On November 21, 2015 the Energy Ministers of the Gas Exporting Countries Forum (GEFC) re-elected Iran’s representative Hossein Adeli as General Secretary of the organization for two coming years.
“Adeli has been re-elected to the position of GEFC General Secretary for 2 years,” reads the Forum Declaration. Iran’s representative will act as General Secretary of the organization since January 1, 2016.
The Declaration reads that Azerbaijan will become a new observer of GEFC.
It has been announced at the Minsters’ meeting that the next 18th GEFC Minister meeting will take place on November 17, 2016.
The 3rd GEFC summit will take place in Tehran today to exchange opinions on gas export and production.
The meeting of high-ranking representatives of 18 GEFC member-states will play a decisive role for almost all the countries and all the decisions made at this meeting will strongly affect the economic perspective of the country as a whole and the sectors of industry, which consume gas.
GEFC united the countries, which are world leaders of natural gas export. The Forum was founded in Tehran in 2011 and was legally established on December 23, 2008 in Moscow, where Energy Ministers of the member-states adopted the regulations of the Forum and signed the intergovernmental agreement.
GEFC member-states include Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates and Venezuela. Iraq, Kazakhstan, Netherlands, Norway, Oman and Peru take part as observers. CEFC headquarters is based in the capital of Qatar Doha.—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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