Since the end of March 2016 till May 18, 2016 SOCAR has pumped 382,438,000 mcm of gas into the underground gas storages, reported SOCAR.
Considering the volume of gas remained in the underground storage since 2015 and the volume pumped into the gas storages, gas resources in the underground gas storage totaled 1,363,313 cub.m.
SOCAR reported that gas resources in the Galmaz gas storage total 632,631,000 cub.m., in Garadag -730,682,000 cub.m. 134,195,000 cub.m. of gas has been pumped into the Galmaz gas storage and 248,243,000 cub.m. into the Garadag gas storage.
Gas pumping into the gas storages will end in November.
The volume of gas pumping into the underground gas storages gives us reasons to believe that Azerbaijan will have no problems with supplying consumers with gas in autumn and winter period.
* SOCAR has two underground gas storages – Galmaz and Garadag. Galmaz gas storage is located 75 km southeast of Baku and was launched in 1955. Garadag gas storage is located 25 km southeast of Baku and it was launched in 1954.—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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