SOCAR plans to develop liquefied natural gas (LNG) sale and invest into the LNG terminals in Malta, SOCAR President told journalists at the International Conference IP Week, which is held in London from February 9 to 11.
Elshad Nasirov, SOCAR Vice President for Marketing and Investments, told journalists that the company will also invest into construction of the power station in Malta, which will be operating on gas. Abdullayev specified that the project is implemented with the partners – Siemens company and a local company. “We will also be involved into the LNG trade,” Nasirov added.
“LNG for the trading will be purchased at the market and we also working on the LNG operations in West Africa – Burkina Faso, Togo and construction of the pipeline from the ocean to Burkina Faso to supply the country with gas,” Nasirov said. He specified that it is planned to invest into construction of the re-gasification terminal jointly with the African partners, reported Interfax.—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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