Azerbaijan state energy company SOCAR plans to announce a tender to find a company to conduct a feasibility study on Albania's gas infrastructure plan as part of European efforts to reduce dependence on gas from Russia.
"SOCAR will announce this tender in the next three months," Murad Heydarov, adviser to SOCAR's president, told Reuters.
"We should draft the feasibility study before the end of 2015, and if this project is considered effective, we will start Albania's gasification project in March next year."
Heydarov estimated the project's cost at "several hundred million dollars".
The general plan of feasibility study of Albania’s gasification was discussed in Tirana on February 18, 2015 under SOCAR’s chairmanship. SOCAR reported that the discussion has been held within the framework of the memorandum signed between Azerbaijan and Albania on December 19, 2014. The working group on the general plan of the feasibility study of Albania’s gasification has been created after discussion. The next session on this problem will take place in April 2015.—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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