“We actively support the project of the Southern Gas Corridor, providing transportation of natural gas of the Caspian Basin and Central Asia to Europe via alternative routes of our country as to ensure its energy security, and to make contribution to the energy security of Europe,” the Prime Minister Erdogan said at a joint press briefing with President Ilham Aliyev in Ankara after the signing ceremony on the construction of the Trans-Anatolian Pipeline (TANAP).
"The project of the Southern Gas Corridor is important in terms of reliable supply of energy resources of Azerbaijan to Europe. As a result of discussions on October 25, 2011 we signed with our Azerbaijani brothers an intergovernmental agreement, and on December 24, 2011 we signed a preliminary agreement to sell Turkey six billion cubic meters and on the transit to Europe via Turkey of 10 billion m3 of natural gas to be produced under the project Shah Deniz-2.
The project TANAP will be operational with gas production within the project "Shah Deniz-2", but the main purpose of the pipeline is the future transportation of gas to be produced in other fields of Azerbaijan. In addition, through the pipeline TANAP, on transit through the territory of Azerbaijan gas will be sent from the source on the opposite shore of the Caspian Sea. “We strongly believe this project,” said Erdogan.
In turn, Aliyev said that the talks and discussions on the transportation of Azeri gas to Europe had been going on for years, but there was no result. "After bilateral consultations, we decided that Turkey and Azerbaijan should take the lead in this matter and jointly implement the project. This project is entirely Turkish and Azeri," said Aliyev.
“In the future this project will provide a great support to the energy security of Europe. We have huge reserves of gas. Only the field Shah Deniz has gas reserves of 1.2 trillion cubic meters. The proven natural gas reserves in relation to other fields in Azerbaijan are 2.6 trillion cubic meters.
It will provided energy security, while at the same time, issues will be resolved to open new markets for Azerbaijan.”
Answering journalists' questions, the Turkish Prime Minister said that initially it will be possible to purchase 6 billion, and then - 10 billion cubic meters of natural gas. The main goal is to bring this figure to 50 billion cubic meters, said Erdogan. -02D-
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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