Last week Azerbaijani Energy Minister Natig Aliyev said while receiving US Ambassado to Azerbaijan Robert Sekuta that construction of Trans Adriatic pipeline (TAP) is scheduled for March 2016.
Several days later at the session of the Coordination Council of the Southern Gas Corridor (SGC) on February 29, 2016 Azerbaijani Minister said that the issues of the TAP funding will be solved in April 2016. He added later: “It will happen on April 28.” But he did not specify what is going to happen on that day.
Minister said that crisis at the world market does not create problems for the projects. “We do not have problems with funding of the Shah Deniz-2 project and SOCAR’s share in the projects. Our partners also have no difficulties.”
“SOCAR has shares both in TANAP and TAP. Major part of TANAP funding has been already settled. Whatever is happening at the market, the projects will be implemented,” Aliyev said.
RIA Novosti reported quoting Yan Bradshow, TAP Managing Director, said that TAP construction will begin in mid-2016 in the Greek city of Saloniki. He added that construction of TAP, which is a part of the SGC, will begin approximately at the end of May- early June 2016. “As far as access is concerned, Greece has created required conditions to begin the project,” he added.—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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