This year it is planned to extract 10.1 cub.m. of natural gas from the Shah Deniz field, reads the article by Azerbaijani Energy Minister Natig Aliyev.
Gas extraction from the Shah Deniz gas condensate field started in November 2006. Since that time annual production volume never exceeded 9.9 billion cub.m.
Minister added that in 2015 9.9 billion cub.m. of gas was extracted from the Shah Deniz contract area.
The extracted gas is supplied to SOCAR (for Azerbaijan), BOTAS (Turkey), GIOC (Georgia) and BTC Co (for the compressor stations of Baku-Tbilisi-Ceyhan oil pipeline).
The Shah Deniz project partners include BP (operator with 28.8%), Petronas (15.5%), SOCAR (16.7%), LUKoil (10%), NICO (10%) and TPAO (19%). –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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