Representatives of MOL in Nabucco consortium said that share of Hungarian MOL concern could be withdrawn from the consortium, if the Hungarian side does not increase investments into the project.
At the end of April this year Hungarian Premier Viktor Orban said at the European Political Centre in Brussels that "MOL company is going to leave the Nabucco gas pipeline project."
Premier said that Nabucco project is facing difficulties with implementation so that "even Hungarian MOL" is going to leave it.
According to the MOL statement, "there are many uncertainties around the Nabucco project, which are hard to ignore," such as cost of the gas pipeline, which should deliver fuel from the Caspian region to Europe, constantly grows.
Christian Dolezal, official representative of Nabucco, told New York times said "situation of NOL Group in the project and its obligations remain unchanged."
Last week representatives of Nabucco-West said that they are waiting for the production companies from the Caspian Sea to join the project. This was actually a signal that the Nabucco-West project has again faced financial difficulties.-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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