The new cost of the trans-Anadolu pipeline (TANAP) has been announced during yesterday's meeting between SOCAR President Rovnag Abdullayev and Turkish Energy Minister Taner Yildiz.
SOCAR President said that investments worth $10-12 billion will be needed to implement TANAP. He added that according to the schedule, the gas pipeline construction is expected to begin in the mid-2014. "Juridical and financial issues of the project are currently under consideration," Abdullayev explained.
SOCAR administration earlier stated that TANAP construction will cost $7-8 billion. Rise in the project cost is connected with specification of the route.-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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