The cost of production of 1,000 cubic meters of gas by the oil and gas producing departments of SOCAR in 2015 amounted to 45.42 manat, and the average price of gas transmitted to Azerbaijan by international operating companies within the PSA agreements is 56.48 manat per 1 000 m³ . This was stated by the spokesman for SOCAR Nizamaddin Guliyev.
According to him, the cost of SOCAR for processing, storage, transportation and supply amounted to 52.02 manat per 1,000 cubic meters. “Thus, in 2015 the average cost of gas sold was formed at the level of 108.31 manat per 1 000 m³,” he said.
Guliyev also noted that this year the cost of production of 1,000 cubic meters of gas amounted to 55.16 manat, the average price of gas transmitted to Azerbaijan by international operating companies within the PSA agreements was 99.15 manat per 1 000 m³, the costs of SOCAR for processing, storage, transportation and supply were 53.97 manat per 1,000 cubic meters, and the average cost of gas sold was 140.42 manat per 1,000 cubic meters.
According to him, the figures in 2017 are forecasted at the level of, respectively, 49.2, 93.71, 47.95, and 121.88 manat. -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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