An Azerbaijani governmental source reported the extra agreement would mean increase in the Azerbaijani gas export to Russia in accordance with the main understanding signed in Baku on October 16, 2009. The document will be signed by SOCAR"s President, Rovnag Abdullayev, and Gazprom"s Chairman, Alexei Miller. According to this, Azerbaijan"s gas export to Russia will increase twofold in 2011 against 2010.
Azerbaijan has contractually undertaken to export 1 billion m3 of gas to Russia in 2010.
The Azerbaijani gas price is determined by the formula quarterly. Russian sources reported that Gazprom paid $244 per 1,000 m3 of Azerbaijani gas in H1, 2010.
Gazprom"s top managers have stated many times that the Russian holding is interested in Azerbaijan"s gas and is ready to acquire the bulk of the gas exported by Azerbaijan. --12В--
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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