Funding of the trans-Anadolu gas pipeline project (TANAP) is carried out at a normal pace, SOCAR President Rovnag Abdullayev told journalists.
He said SOCAR’s project partners – BOTAS and BP – have already started funding of their own share.
“TANAP is even implemented ahead of schedule. In the second half of 2018 Azerbaijani gas will reach Turkey,” said Abdullayev.
TANAP envisages gas transportation from the Azerbaijani Shah Deniz field from the Georgian-Turkish border to the western Turkish border. The initial capacity of the TANAP pipeline is expected to be 16 billion cub.m. of gas a year. About 6 billion cub.m. will be delivered to Turkey and the remaining volume to Europe.—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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