Nabucco West project continues competing with other projects for Azerbaijani gas deliveries to the European markets, writes Reuters quoting Elmar Mammadov, representative of SOCAR company in Germany.
Mammadov said that the recent signing of the agreement between the partners for development of the Azerbaijani gas condensate field Shah-Deniz (BP, SOCAR and Total) and trans-Adriatic pipeline (TAP) to fund the project is not aimed against the Nabucco West project.
"Agreement with TAP gives partners more juridical safety. This is not a decision aimed against Nabucco West," Mammadov said. He also added that SOCAR intends to sign the similar agreement with the Nabucco West consortium.
In early August BP, SOCAR and Total signed agreement with TAP to fund the project till section of a final route of Azerbaijani gas export to Europe. According to the agreement, the funds will be spent for various works within the project, which are planned to be carried out till final decision on the pipeline to export Azerbaijani gas to Europe in 2013.
The agreement also envisages the possibility of acquisition of up to 50% in TAP project by the Shah-Deniz partners. --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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