Next year gas production in Azerbaijan is planned to total 27,364,000,000 cub.m., according to the draft budget, which is currently under consideration in Milli Mejlis.
This equals to this year’s level. The volume of tank gas is not mentioned in the document. However, it will most likely remain the same as this year – 17.3 billion cub.m. 7 billion cub.m. will fall to production by State Oil Company of Azerbaijan (SOCAR), 2.5 billion cub.m. – to the associated gas from the Azeri-Chirag-Guneshli (ACG) fields and the remaining volume – to the Shah-Deniz consortium.—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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