In 2015 Azerbaijan plans to increase the volume of tank gas up to 20 billion cub.m., reads the article by Ramiz Rzayev, chief of the Investment Department of Azerbaijan Energy Ministry, published in official press.
Rzayev claims that there are possibilities to double this index up to 40 billion cub.m. in 2025.
During 2012 Azerbaijan extracted 17.24 billion cub.m. of tank gas. This year the volume of gas is expected to be 17.5 billion cub.m.
The draft budget, which has been recently submitted to parliament for approval, envisages that in 2014 Azerbaijan plans to extract 27.36 billion cub.m. of tank gas and in 2015 – 27.23 billion cub.m. The government put this volume of gas together with associated gas, part of which is injected back into the oil wells. In 2012 total volume of gas production in Azerbaijan was 26.79 billion cub.m. Considering that, according to the government’s forecasts, in 2015 the country must extract about 18 billion cub.m. of tank gas.
First of all, there are no resources to increase production up to 20 billion cub.m. and secondly, there is no market. Therefore, it is hard to believe the data of representative of the Energy Ministry published in official press.—0—
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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