As there is a big gap in price and reliability of deliveries between the countries in the middle of Europe and those on the outlying provinces of Europe, it is necessary to find the ways to connect the Caspian region with the European Union, Elshad Nasirov, Vice President of State Oil Company of Azerbaijan (SOCAR) for Investments and Marketing, said at the meeting with the members of the American Chamber of Commerce in Azerbaijan (AmCham).
“This is a challenging, if not the most challenging task in the world,” Nasirov said.
He said: “A lot can be said about the Southern Gas Corridor and we need to think what this corridor means for Europe and the world market. The European Union needs a higher level of security and energy safety cannot be separated from the national security of any country. It becomes obvious that energy is equal to a national security of any country,” he added.
* At the end of February 2014 SOCAR joined a big family AmCham in Azerbaijan, which includes over 270 members.—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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