Azerbaijani gas will be cheaper, than Iranian or Russian, said Kenan Yavuz, head of SOCAR Turkey Enerji, member of Board of Petkim petrochemical holding.
Yavuz told Turkish Haberturk newspaper that SOCAR invests capital in various and sometimes risky projects. He added that at the Turkish market SOCAR is involved in manufacture of petrochemical products. It plans to generate power at the Izmir power station, distribute fuel and natural gas and provide logistic and transport services. The company has bought media assets (newspaper and television) at the local market.
He said SOCAR plans to launch the trans-Anadolu pipeline (TANAP) in 2018. By that time the company’s investments into the Turkish projects will reach $17 billion.
SOCAR’s partners in development of the Shah-Deniz gas condensate field have submitted their preliminary intentions concerning purchase of the share in the TANAP project. According to the preliminary information, the partners are going to distribute 29% share in TANAP as following: Statoil and BP – 12% each 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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