On Thursday Ilham Aliyev discussed issues of financing the TANAP project with Vice-President World Bank's Europe and Central Asia Cyril Muller. Aliyev highly appreciated the financial support of the World Bank for the implementation of the "Southern Gas Corridor", noting that TANAP will be completed on time.
* TANAP gas pipeline and its extension to Europe - the TAP pipeline. The main objective of the project is to increase the security of gas supplies to Europe, reducing the share of Russia as a gas supplier. TANAP is estimated at $10-11 billion. Part of the funds allocated the World Bank. It is planned to begin the first deliveries in 2018 to Turkey, and then in 2019 - to Europe. In the first stage the throughput capacity of a new pipeline is estimated at about 10 billion cubic meters per year, with the possibility of further expansion up to 20 billion cubic meters a year.-02D-
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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