The final decision of the Azerbaijani consortium on the development of “Shah Deniz” gas field delivering gas to the European market will be officially announced on June 28 in Baku.
According to the consortium "Shah-Deniz", the ceremony of announcement will take place at 11:00 am at the Four Seasons. The event will be attended by the shareholders of the "Shah-Deniz" project, the management of State Oil Company of Azerbaijan, as well as representatives of the diplomatic corps.
It became known on June 26 that a consortium of "Shah-Deniz" chose the Trans Adriatic Pipeline (TAP) as the route for delivering the Azerbaijani gas to Europe; TAP passes through the territories of Greece, Albania and Italy. --12B--
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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