Gunnar Walter has been appointed a new Financial Director of the trans-Adriatic pipeline project (TAP), which will be used to export Azerbaijani gas to Europe, reads the statement released by TAP.
In January 2014 Walter has been appointed Senior Financial Manager of TAP. He has 13 years of experience in the gas infrastructure development projects.
Walter has worked earlier in Nord Stream project and German EIN Ruhrgas company. TAP envisages export of gas from the Shah Deniz Phase 2 project in Azerbaijan to the EU member-states.
About 870-km-long pipeline will be connected with trans-Anadolu gas pipeline (TANAP) on the Turkish-Greek border near Kipoy city, pass through Greece, Albania, Adriatic Sea and then south of Italy. The pipeline construction is expected to begin in 2016.
* TAP shareholders include BP – 20%, SOCAR – 20%, Statoil – 20%, Fluxys – 19%, Enagas – 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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