Italian Eni company expressed a desire to buy 20% share in the trans-Adriatic pipeline (TAP) project, one of the routes for delivery of Azerbaijani gas to Europe, Fulvio Conti, Eni Executive Director, told Reuters agency.
He said currently the talks are in progress to provide the company between 10% and 20% share in the project. “The final decision of the shareholders is expected in September-October 2013,” said Enel representative.
At present the TAP shareholders are Swiss Axpo (42.5%), Norwegian Statoil (42.5%) and German E.ON Ruhrgas (15%).
If the Shah-Deniz consortium chooses TAP as the route to deliver Azerbaijani gas to Europe, the TAP shareholders must give half of their shares to the main Shah-Deniz shareholders, which include SOCAR, BP and Total.
TAP is 800 km long. According to the preliminary estimates, investments between 2.5 to 3 billion Euro are needed for its construction.—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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