By 2025 tank gas production in Azerbaijan will reach 40 billion cub.m., SOCAR President Rovnag Abdullayev said at the international conference “New Technologies in Oil and Gas Production” in Baku.
According to the forecasts, by 2015 tank gas production in Azerbaijan will reach 20 billion cub.m.
For three years running Azerbaijan produced 16.3-16.8 billion cub.m. of gas a year. By 2020 the country will hardly produce 20 billion cub.m. of gas, because of the problems with gas sales at the local and foreign markets. New markets are not expected by this time.
SOCAR specialists earlier forecasted that by 2025 the country will produce 50 billion cub.m. of gas a year. It seems like development of some gas fields, which have been recently discovered, is delayed or the pace of production growth will be limited, as it happened with the oil on ACG project. This is also, possibly, connected with problems with gas sales at the European markets (by that time part of the European market will be supplied with US slate gas and liquefied gas from Qatar and Africa).—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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