TANAP is a strategic project for Turkey and Azerbaijan, Kenan Yavuz, chief of SOCAR-Turkey Enerji A.S. company, told CNBC TV channel on December 15, 2012.
Yavuz added that the TANAP project is planned to begin in five years and operation of the pipeline will start in 2018.
TANAP project envisages transportation of gas from the Shah-Deniz to Europe via Turkey. Initial carrying capacity of the pipeline is expected to reach 16 billion cub.m. a year. About 6 billion cub.m. will be delivered to Turkey and the rest to Europe.
However, implementation of TANAP project is not easy. Beginning of the TANAP operation must be synchronized with putting into operation of the two pipelines – the expanded South Caucasian Pipeline (SCP) and the gas pipeline via which Azerbaijani gas from the Shah-Deniz field will be further transported to the European markets. Simultaneous launching of construction of three pipelines (with total length of about 3500 km) by separate consortia has the same goal -to transport Azerbaijani gas to the European market. Lagging behind the schedule in one project will mean failure of the entire project, including delay of TANAP. Therefore, it is hard to state exact date of launching of TANAP.—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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