Georgia expects investments totaling $400-700 million as part of the second phase of Azerbaijani Shah Deniz field's development, Georgian Energy and Natural Resources Minister, Kakha Kaladze told journalists on December 17.
"It is envisaged to expand the South Caucasus pipeline as part of the project (Shah Deniz-2), in order to further annually supply 16 billion cubic meters of gas to Turkey," Kaladze said. "It is planned to construct a 387 kilometres long pipeline in Azerbaijan and a 55 kilometres long pipeline in Georgia, as well as to install a new pressure regulating station and two additional compressor stations in Georgia".
He noted that $400-700 million will be invested to Georgia within the Shah Deniz-2 project.
Kaladze went on to add that after the start of the pipeline's operation, Georgia will receive additional natural gas.—0—
Economics
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new procedure for the recruitment of medical personnel to medical institutions included in the state healthcare system. The decision, which comes into force on January 1, 2025, aims to enhance the implementation of compulsory health insurance in the country.
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The Organization of Turkic States (OTS) convened a pivotal meeting in Guba, recently named the agricultural capital, to introduce the "OTS Made" brand for agricultural products. Representatives from the Ministries of Agriculture of Azerbaijan, Turkey, Uzbekistan, Kazakhstan, and the Turkish Republic of Northern Cyprus, along with experts from relevant departments, participated in the event.
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The monopolists of the Azerbaijani internet services market, LLC Aztelekom and LLC Baktelekom, have agreed to raise the minimum monthly internet package price from 18 AZN for 40 Mbps to 25 AZN for 100 Mbps starting August 15. Explaining the new price, these companies want to convince the public that the price has dropped since the internet speed will increase by 2.5 times, thus reducing the cost per Mbps from 45 qapik to 25 qapik. There is no information about the technical innovations in the company that will ensure high traffic speed.
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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 3.3% increase in its gold investments compared to last year, according to the fund's investment activity results for the second quarter of 2024. Gold investments now account for $8.57 billion, or 14.8% of SOFAZ's US Dollar Portfolio.
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