Tommorow SOCAR and HRADF to sign agreement to buy 66% shares of greek gas distribution company
On December 17, 2013 State Oil Company of Azerbaijan (SOCAR) will sign the agreement with the Greek Hellenic Republic Asset Development Fund (HRADF) to buy 66% shares of the Greek gas distribution state company DESFA.
The document will be signed during the visit of the Greek governmental delegation led by Premier Antonis Samaras to Azerbaijan, which will begin on December 17.
The Greek delegation will be also comprised of Minister of Energy and other officials, including HRADF President.
On July 31, 2013 HRADF approved the deal on purchase of 66% shares of Greek gas distribution company DESFA for 400 million Euro by SOCAR.
SOCAR will buy 31% shares of DESFA from the Greek government and 35% from the Hellenic Petroleum SA.
Until transfer of ownership of the DESFA share to SOCAR, it is controlled by HRADF.
On December 17, 2013 the ceremony to authorize the gas condensate Shah-Deniz Phase 2 development and sign the documents to fund the trans-Adriatic gas pipeline (TAP) will take place in Baku.
The governmental delegations from Italy, Albania, Greece, Bulgaria and UK will attend the ceremony. The EU Energy Commissar Gunter Oettinger will also visit Baku.—0--
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- Economics
- 16 December 2013 12:00
Economics
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The monopolists of the Azerbaijani internet services market, LLC Aztelekom and LLC Baktelekom, have agreed to raise the minimum monthly internet package price from 18 AZN for 40 Mbps to 25 AZN for 100 Mbps starting August 15. Explaining the new price, these companies want to convince the public that the price has dropped since the internet speed will increase by 2.5 times, thus reducing the cost per Mbps from 45 qapik to 25 qapik. There is no information about the technical innovations in the company that will ensure high traffic speed.
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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 3.3% increase in its gold investments compared to last year, according to the fund's investment activity results for the second quarter of 2024. Gold investments now account for $8.57 billion, or 14.8% of SOFAZ's US Dollar Portfolio.
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Azerbaijan's Minister of Digital Development and Transport, Rashad Nabiyev, announced on the social network "X" that during the visit of Israel's Minister of Regional Cooperation, David Amsalem, to Azerbaijan, discussions were held on cooperation in innovation, space, and aviation.
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Azerbaijan is bracing for heightened expectations of currency devaluation as declining oil revenues and mounting inflationary pressures fuel concerns over economic stability, experts warn.
YAP-ın seçki siyahısında kimlər var? Seçkiyə gedənlər, getməyənlər... – Nəsimi Məmmədli Çətin sualda
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- Social,
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