The international law firm Milbank, Tweed, Hadley & MCCloy became a legal consultant of Azerkosmos on the preparation and use of the satellite Azerispace-2.
According to the report of the JSC, the parties signed a contract to provide services in the amount of $ 300 thousand.
JSC Azerkosmos attracted legal consultant for the formation of contracts for sharing orbital position for the second telecommunications satellite Azerispace-2, satellite design and technical and other types of cooperation at the stage of its operation in orbit, as well as contracts for regulating the commercialization of satellite capacity.
As previously reported, the launch into orbit of the second telecommunications satellite Azerispace-2 is scheduled for 2017.
The first telecommunications satellite Azerispace-1 was launched on February 9, 2013 from Kourou (in northeastern South America in French Guiana).
JSC Azerkosmos expects to receive $ 420 million as net income from the operation of Azerspace-1. --17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review