In 2025 Azerbaijan’s export potential will total as minimum 40-45 billion cub.m. of gas, Rovnag Abdullayev, President of State Oil Company of Azerbaijan (SOCAR), said last week in Istanbul.
Abdullayev said that gas resources in Azerbaijan total over 3 trillion cub.m., which contributes to development of the country’s export potential.
SOCAR has earlier evaluated Azerbaijan’s gas resources at 2.65 trillion cub.m.
“We need a new gas pipeline to export this volume of gas,” Abdullayev said.
He added that at the first stage 16 billion cub.m. of gas will be transported in transit via the Trans-Anadolu (TANAP) gas pipeline.
“In the future we will consider the possibility of increase in gas deliveries via TANAP up to 30 billion cub.m.,” Abdullayev said.
TANAP envisages transportation of gas from the Shah-Deniz field to Europe via Turkey. The initial carrying capacity of the pipeline is expected to reach 16 billion cub.m. a year. About 6 billion cub.m. will be delivered to Turkey and the remaining volume to Europe.—0---
Economics
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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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