Russian gas supplies to the AzMeCo company, methanol plant in Baku’s Garadag region, are scheduled for September 20-21, Rovnag Abdullayev, President of State Oil Company of Azerbaijan (SOCAR), told journalists.
He said according to the agreement signed between Russian Gasprom company and AzMeCo, the volume of deliveries will total 1-2 billion cub.m. of gas a year. “This will depend on the needs of the Azerbaijani company,” SOCAR President explained.
On September 11, 2015 Gasprom and AzMeCo signed the partnership agreement for natural gas supplies. The contract has been signed by Yelena Burmistrova, Director of Gasprom Export daughter company, and Nizami Piriyev, chairman of Board of AzMeCo.—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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