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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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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Azerbaijan's Minister of Digital Development and Transport, Rashad Nabiyev, announced on the social network "X" that during the visit of Israel's Minister of Regional Cooperation, David Amsalem, to Azerbaijan, discussions were held on cooperation in innovation, space, and aviation.
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Azerbaijan is bracing for heightened expectations of currency devaluation as declining oil revenues and mounting inflationary pressures fuel concerns over economic stability, experts warn.
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