State Oil Company of Azerbaijan (SOCAR) has not resumed gas export to Russia yet, but gas supply will be resumed as soon as repair of the gas pipeline is completed, SOCAR President Rovnag Abdullayev told journalists.
He specified that Azerbaijani gas is not exported to Russia, because of the repair works on the gas pipeline from Azerbaijan to Russia.
“Gas supply has not been resumed yet. According to the contract conditions, we will be able to supply gas any time,” Abdullayev said.
Azerbaijani gas export to Russia was suspended in January 2014.
In 2013 SOCAR exported to Russia 1.37 billion cub.m. of gas. Azerbaijani gas is delivered to Russia on the basis of the purchase-sale contract concluded between SOCAR and Gasprom on October 14, 2009 in Baku.
From January 1, 2010 Gasprom buys Azerbaijani gas to supply Dagestan republic.
According to the Russian sources, in 2014 Russia plans to import from Azerbaijan only 1 billion cub.m. of gas. SOCAR will be able to pump this volume from September to December 2014 – 250 million cub.m. each month. During spring and summer Russia does not need Azerbaijani gas.—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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