The consortium for construction of the Trans Adriatic pipeline (TAP) has signed the contract to supply pipes for construction of the offshore section of TAP, reported the consortium.
The contract to deliver 110 km of 36 inch pipes to build the gas pipeline along the Adriatic Sea bottom from the Albanian coast to the southern coast of Italy has been signed with German Salzgitter Mannesmann International GmbH company. Total weight of the pipes is 71,000 tons.
Prior to that the TAPA consortium has signed the Engineering, Procurement, Construction and Installation (EPCI) contract to build the offshore section of the pipeline along the Adriatic Sea bottom with Italian Saipem SpA company. This section of the gas pipeline will connect the coastal lines of Albania and southern Italy.
TAP project envisages gas export from the Azerbaijani Shah Deniz-2 gas condensate field to the EU member-states.
TAP shareholders include BP with 20%, SOCAR – 20%, Snam – 20%, Fluxys – 19%, Enagás – 16% and Axpo – 5%. –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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