Rovnag Abdullayev, President of State Oil Company of Azerbaijan (SOCAR) has named the company, which is going to leave the European pipeline project Trans-Adriatic Pipeline (TAP), the last link of the Sothern Gas Corridor (SGC).
SOCAR President said in his last exclusive interview to private ANS TV channel: “Statoil has decided to fully leave TAP project and one company is ready to buy its share,” added Abdullayev.
“Several companies have already expressed interest in buying Statoil’s share. And I think it will be better if several companies buy this share,” said SOCAR President.
At the IV World Gas Congress on June 4, 2015 Carlo Malakarne, Executive Director of Italian Snam compay, said that Snam is going to buy 20% share in TAP project. Later he said that one of the companeis has expressed a desire to leave the project.—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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