Ukraine plans to increase its gas production up to 24 billion cub.m, Ukrainian President Viktor Yanukovich said during his working trip to Svetlodarsk city, Donezk district, today.
The Ukrainian presidential press office quoted him as saying: “During the past two years the country has significantly increased gas production up to 21 billion cub.m. a year. Our goal is to extract even more. Soon gas production will be increased up to 24 billion cub.m.”
He added that now Ukraine pays the highest gas price in Europe. “We cannot buy so much gas at such a high price. We will take every effort to reduce expensive gas purchase and look for cheaper gas and we will diversify its deliveries,” Yanukovich said. He reminded that in 2010 Kiev bought 42 billion cub.m. of gas from Russia, while this year it will import 18 billion cub.m.—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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