Festive events dedicated to the start of construction of the Trans Adriatic Pipeline (TAP), are taking place in Thessaloniki. The ceremony will be attended by Greek Prime Minister Alexis Tsipras, the special envoy of the State Department on international energy issues Amos Hokstayn, European Commission Vice President Maroš Šefčovič, Bulgarian Energy Minister Temenujka Petkova, Managing Director of Trans Adriatic Pipeline Ian Bradshaw, representatives of members of the TAP consortium of companies - BP, SOCAR, Snam, Fluxis, Enagas and Axpo, as well as delegations from the participating countries, RIA-Novosti reported.
The TAP gas pipeline’s length, 880 kilometers and an initial capacity 10 billion cubic meters per year must take gas from the Azerbaijani field "Shah Deniz-2" from the pipeline TANAP (Trans-Anatolian Natural Gas Pipeline) at the border of Greece and Turkey. The pipeline has to cross Greece, Albania, the Adriatic Sea, and in the south of Italy to enter the Snam gas transportation network.
In the future, it provides an opportunity to increase the capacity to 20 billion cubic meters of gas per year;
550 kilometers of the pipeline will pass through the territory of Greece. Athens considers TAP as a strategic project – for the first time Greece will take place on the energy map, and receive direct investment of 2 billion euro. -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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