2013 will stay in history of Azerbaijan as “gas” year, because almost all main events were related to gas or gas infrastructure.
The most important energy events for Azerbaijan are the following:
1. On June 28, 2013 the Shah-Deniz consortium selected the trans Adriatic pipeline (TAP) to transport Azerbaijani gas extracted from the Phase-2 to Europe.
2. The ceremony to sign the final investment decision on the Shah-Deniz Phase 2 took place in Baku on December 17, 2013.
3. On September 19, 2013 the Shah-Deniz consortium and nine European companies signed the commercial agreements on purchase-sale of gas from the Shah-Deniz Phase 2 field.
4. According to the document signed in Baku on December 17, 2013, the contract for the Shah-Deniz field development is extended till 2048.
5. On December 17, 2013 Norwegian Statoil company announced sale of 10% share in the Shah-Deniz project to State Oil Company of Azerbaijan (SOCAR).
6. On December 17, 2013 BP company reached an agreement with SOCAR to join the trans-Anadolu (TANAP) project with 12% share.
7. On December 17, 2013 Norwegian Statoil and French Total announced their refusal to take part at the TANAP project.
8. On December 17, 2013 Azerbaijan signed the memorandum on mutual understanding on future gas deliveries to Albania, Croatia and Montenegro.
9. On December 17, 2013 it was announced that SOCAR will become the commercial operator of the Shah-Deniz project.
10. On December 19, 2013 BP-Azerbaijan announced signing of two service contracts within the Shah-Deniz Phase 2 project worth $1,972,000,000.
11. On December 21, 2013 SOCAR signed the contracts with the Greek Hellenic Republic Asset Development Fund (HRADF) and Petroleum company to buy 66% shares of DESFA company, the operator of the Greek national gas distribution network.
12. On July 30, 2013 the partners of the Shah-Deniz field development –BP, SOCAR and Total – bought shares in the trans Adriatic pipeline (TAP).
13. On June 4, 2013 Caspian Drilling Company (CDC), 92.44% shares of which are owned by SOCAR, and Singaporean Keppel Offshore & Marine Ltd (daughter company of Keppel FELS) signed the agreement worth about $1 billion to build the sixth generation drilling rig for the operations in the Caspian Sea.
14. From December 3, 2013 retail sale of diesel fuel increased by 34%, while automobile petrol by over 30%.
15. During 2013 oil production remained the same as last year – about 42,900,000 tons, while production of tank gas increased by 3% - 17,700,000,000 cub.m.—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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