The first branch of South Stream gas pipeline will start to operate at the end of 2015, Vladimir Chizhov, Russia’s permanent representative in European Union, said in his interview to RIA Novosti.
Gasprom will build the gas pipeline through the Black Sea to Southern and Central Europe to diversify the gas export routes. South Stream construction started on December 7, 2012 in Anapa. It was earlier reported that the commercial deliveries are expected to start in quarter 1, 2016 and the project will reach the full capacity of 63 billion cub.m. a year in 2018.
The first branch of South Stream will be launched by the end of 2015, Chizhov said.—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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