The governments of Montenegro, Albania, Bosnia and Herzegovina and Croatia signed a memorandum of understanding, support and cooperation in the construction of two new pipelines - the Trans Adriatic Pipeline, TAP and the Ionian Adriatic Pipeline, IAP ), said the Foreign Minister of Montenegro.
The MOU was signed in Tirana yesterday. The parties undertook to promote the development, financing and implementation of projects for the construction of gas pipelines, as well as domestic markets prepare to receive gas from Azerbaijan and the Caspian region.
"The Party States expressed their full support to the projects TAP and IAP, and confirmed the EU's support for the objectives of diversification and security of supply of gas to Europe," said the statement.
As the Minister of Foreign Affairs of Montenegro said, TAP is designed to transport gas from the Caspian region to Western Europe. It is planned that the pipeline will connect Greece and Albania and across the Adriatic Sea will be delivered to the Italian region of Puglia.
IAP with length of 530 km will be in fact a branch of the Trans Adriatic. The estimated cost of IAP is 610.5 million euros. It will link the Albanian city of Fiery and Croatian Split through the territory of Montenegro, and Bosnia and Herzegovina, according to RIA Novosti. -0 -
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review