Consortium for the development of Azerbaijani gas condensate field "Shah Deniz" started assessing the legal obligations of pipeline projects Nabucco West and Trans Adriatic Pipeline (TAP), designed to transport gas to Europe, reads the report of the consortium "Shah-Deniz" (operator - BP) distributed on May 2 in Baku.
According to the report, the assessment of legal liability is one of the next important steps towards the implementation of the project "Southern Gas Corridor".
After the presentation at the end of March this year the primary offerings by the consortiums Nabucco gas pipeline and the Trans-Adriatic Pipeline (TAP) began advanced talks with a consortium to develop the field "Shah Deniz". These proposals were approved by shareholders and from that moment began to proposals that create legal liability.
Consortiums of two gas pipelines proposed to provide annual transportation to Central and Southern Europe 10 billion cubic meters of Azeri gas per year. Currently, the consortium "Shah-Deniz" completes an assessment of these proposals.
It is expected that a final decision on the pipeline will be made by the end of June 2013. - 12D –
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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