The connection of the Odessa-Brody oil pipeline with Polish Plozk and Gdansk cities does not guarantee payback and we will have to look for oil to fill it, admitted one of the key partners of the project – Polish PERN Przyjazn concern.
He expressed this opinion at the meeting of the shareholders of the international joint venture MRP Sarmatia, which was in charge of development of feasibility study of the pipeline project. As a result, the sides failed to agree on the items of the agenda, which were related to the funding and plans.
The concern supports the project, but believes that the works schedule submitted by Sarmatia is unreal. “The project could not be completed till the end of 2015, which could have allowed us getting funding through “Infrastructure and Environment” program as a part of the European Union financial perspective,” the Polish company said.
Odessa-Brody oil pipeline was built by Ukraine in 2001 to transport Caspian Oil to Europe bypassing Russia. The oil pipeline stands idle, because of lack of a branch to Poland. Ukraine hopes that Poland will complete construction of its own section of the 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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