Since October 20, 2012 Azerbaijan increased gas deliveries from Shah-Deniz field to Turkey by more than 50%. This happened at the request of Turkish state company Botas after full suspension of gas transportation from Iran to Turkey, because of the act of terrorism on the pipeline on October 19, 2012, an official representative of BP in Turkey told Reuters correspondent.
Before that Turkey imported 10-11 million cub.m. of natural gas from Azerbaijan from the Shah-Deniz field a day.
According to the latest information from the Turkish sources, Botas plans to repair the damaged section of the Iran-Turkey gas pipeline near Agra region by October 26, 2012. Till the accident Turkey imported about 30 million cub.m. of gas from Iran via this pipeline. Right now gas shortage at the Turkish local market is covered mainly at the expense of increase in the Russia gas deliveries via the Blue Stream pipeline along the Black Sea bottom.
* BP company is the operator of the Shah-Deniz field, which extracts about 25 million cub.m. of gas a day. In addition to Turkey, Azerbaijan, Georgia and BTC Co company buy gas from the Stage-1 project of Shah-Deniz field development. BTC Co buys gas for the pumping stations of the Baku-Tbilisi-Ceyhan oil pipeline.-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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