On November 5, 2013 Ukrainian Premier Nikolai Azarov and Croatian Premier Zoran Milanovich are going to sign the memorandum to create the Adriatic gas corridor, which will connect Ukraine, Hungary and Croatia, said Ukrainian Premier at the meeting with the Assistant of the US Secretary of State Victoria Nooland.
“On November 5, 2013 Croatian Premier will pay an official visit to Ukraine and we are going to sign the memorandum to build LNG terminal and pipeline on the Adriatic coast,” the press office of the Ukrainian Cabinet of Ministers quoted Azarov.
Head of the government reminded that during the past three years Ukraine overpaid Russia $20 billion, because of the gas contracts of 2009, and now it is forced to diversify the energy carriers’ deliveries, production of hydrocarbons from non-traditional sources and also switch from power to coal.
In October 2013 the Ukrainian Ministry of Energy said that Ukraine, Croatia and Hungary have agreed to build the Adriatic gas corridor. The pipeline will be connected to the LNG terminal, which Croatia plans to build on the Krk island in the Adriatic Sea (Adria LNG project). The corridor envisages natural gas deliveries from the LNG terminal on the Krk island in Croatia through the Hungarian gas transportation systems to the Ukrainian gas storages.—0--
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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