Reduction of oil production and export affected natural gas and during 11 months, 2012 export dropped by 3.4% against the same period last year and totaled 6,144,147,900 cub.m.
State Customs Committee reported that from January to November 2012 gas export from Azerbaijan totaled 6,144,147,900 cub.m. During this period gas exported on the basis of simplified customs declarations totaled 2,394,045,900 cub.m. to the amount of $561,523,025.
Azerbaijani gas is exported by State Oil Company of Azerbaijan (SOCAR) to Russia, Iran and Georgia as well as by the Shah-Deniz consortium to Georgia and Turkey via the Baku-Tbilisi-Erzurum gas pipeline.
Last year gas export totaled 7,092,209,000 cub.m. on the basis of the gas meters.
* Crude oil consists 85.03% of export, oil products - 5.5% and natural gas - 2.54%.-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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