Italian Premier Enrico Letta will arrive in Baku on December 17, 2013.
Italian Lesse News 24 reported that Italian Premier will attend the ceremony of the Shah-Deniz-2 gas condensate field authorization.
Half of the gas extracted from the Shah-Deniz Stage-2 will be delivered to the Italian market via the trans-Adriatic pipeline (TAP). The TAP was selected by the Shah-Deniz consortium on June 28, 2013.
It is planned to extract the first gas from the Shah-Deniz Phase 2 in 2018. After two years the consortium will reach a project capacity of 16 billion cub.m., of which 6 billion cub.m. will be delivered to Turkey, 1 billion cub.m. to Greece and Bulgaria each and 8 billion cub.m. to Italy.
Greek and Albanian officials are also expected to attend the ceremony.—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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