European Union hopes to conclude agreement with Azerbaijan and Turkmenistan on the legal basis of the trans-Caspian gas pipeline, read the materials of the discussions of Foreign Ministers of 27 EU member-states at the meeting in Luxembourg on June 25, 2012.
"EU intends to conclude the agreement on the legal basis of the trans-Caspian gas pipeline with Azerbaijan and Turkmenistan, which will contribute to opening of the European Southern Gas Corridor via which it is planned to carry natural gas from the Caspian region to Europe," says the press release.
Russia and Iran believe that the issue of the pipeline laying via the Caspian Sea bottom should be solved with consent of all Caspian basin states. Azerbaijan, Kazakhstan and Turkmenistan believe that this issue could be solved by two contracting parties, but not all five littoral states.
Yurii Ushakov, Assistant of Russian President, said that Vladimir Putin said at the summit Russia-EU in early June that any decisions on the Caspian issues made without consensus would be considered illegitimate by Russia.-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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