EU commission favors new Nabucco project
After OMV's pipeline project Nabucco failed, the EU Commission takes into consideration a stripped-down version along the Danube.
"Perhaps not under the name Nabucco West, perhaps with other investors but the infrastructure alongside the Danube will remain an important project particularly since we expect Romania to become not only a major gas market but also an exporter of gas with offshore gas and shale gas,"
EU Commissioner for Energy Günther Oettinger said, Natural gas Europe reported.
The Transadriatic Pipeline (TAP), the competing project to OMV's Nabucco where gas is transferred from Turkey via Greece and Albania to Southern Italy, was welcome "but the other infrastructure will remain necessary."
According to Oettinger, the decision between TAP and Nabucco was made.
"The most important thing is: There is gas coming from Azerbaijan to the European gas market. The door is opened," the Commissioner announced.
Until 2020, 248 border-crossing projects could be financially backed by the € 5.85-worth fund of the European Union "Connecting Europe", the authority announced on Monday. The projects will benefit from an accelerated planning and approval procedure of three years at the most as well as effective procedures in regard to environmental risk assessment.—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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