The selection of land for construction of the trans-Anadolu gas pipeline (TANAP) has already started, SOCAR President Rovnag Abdullayev told journalists.
He said SOCAR’s geologists have been working along the gas pipeline route jointly with Turkish Botas company’s specialists to select the land.
Abdullayev said that detailed engineering of the pipeline is currently in progress.
The documents on construction of TANAP were signed in Istanbul on June 26, 2012.
TANAP will be used to transport Azerbaijani gas from the Shah-Deniz field Phase 2 from the Georgian-Turkish border to the Turkish-Greek border. TANAP will be 1800km long. The initial carrying capacity of the gas pipeline will be 16 billion cub.m., of which 10 billion cub.m. will be exported to Europe and 6 billion cub.m. to the western regions of Turkey. TANAP cost is estimated at $12 billion.
20% in TANAP is owned by Turkish BOTAS and TPAO and 80% by SOCAR. SOCAR is going to preserve 51% shares and offer the remaining 29% to BP (12%), Statoil (12%) and Total (5%).—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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