Russia and Armenia have found agreement on the formula of price for Russian gas deliveries, which is going to be $189 per 1000 cub.m., Russian President Vladimir Putin said at a press conference in Armenian capital Yerevan yesterday.
He said Russia unilaterally cancels the export duty of energy resources for Armenia. Putin added that the Russian budget will receive less money, but Armenian economy will benefit from this decision.
On Monday Russia and Armenia signed several intergovernmental agreements, in particular the one on cancellation of export duties of gas and oil products for Armenian. Armenian Premier Tigran Sarkisian earlier explained that the price of Russian gas for Armenia of $270 is formed of the price of $189 per 1000 cub.m. and 30% customs duty.
Gasprom Export and ArmRosgasprom have also signed the contract. Gasprom reported that according to the contract, from 2014 to 2018 Russian gas holding will deliver up to 2.5 billion cub.m. of gas a year to Armenia. In 2012 Gasprom delivered 1.7 billion cub.m. of gas to Armenia.—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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