Bulgaria intends to become the main gas transit country for the Southeastern and Central Europe, thanks to the Balkan gas storage, which is planned to be built close to the Black Sea city of Varna and will be filled with Azerbaijani gas, reported Deutsche Welle on Tuesday quoting Bulgarian Premier Boyko Borisov.
He said the Bulgarian government will make every effort to achieve this goal.
“According to the project, gas must be pumped to the storage from Azerbaijan, Russia and Turkmenistan as well as Romanian and Bulgarian fields. The project and its financial plan are being worked out by the Bulgarian government jointly with the European Commission,” said the same source.
According to the Bulgarian authorities, construction of the hub, which was first announced on February 9, 2015 at the Energy Forum in Sofia, would have allowed to partially diversify the gas deliveries to the European countries. From the gas storage, which will be built near Varna, gas will be pumped to Bulgaria, Romania and Serbia. It is planned to deliver about 43 billion cub.m. of gas to Central Europe.—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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