On Friday SOCAR, BP, and the Turkish company BOTAŞ signed agreement within the framework of the Trans-Anatolian gas pipeline (TANAP), reports the agency "Anadolu".
According to the document, bp is becoming one of the TANAP shareholders with 12% interest.
BOTAS will receive 30%, and SOCAR - 58%. The project TANAP will transport gas from Azerbaijani field "Shah Deniz" through Turkish territory to the border with Greece. The In Turkey, the Azerbaijani gas will be transoprted to Turkey through Georgia. The construction of the pipeline will be held on March 17, and will be commissioned in 2018. Total costs for the project are estimated at $11 billion. -16В04-
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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