Work on a feasibility study for the AGRI project (Azerbaijan-Georgia-Romania Interconnection) is coming to an end, Natig Abbasov, Deputy Minister of Industry and Energy Azerbaijan, said at the international conference "Establishment of Bridges" in Baku.
Abbasov said that up to 2 billion cub.m. are planned to be exported via AGRI during the first stage, and from 5 to 8 billion cub.m. of gas during the second stage. "Despite participation of Azerbaijan, Georgia, Romania and Hungary in the project, other countries, such as Ukraine and Bulgaria are also interested in it. Some countries even offer to build the gas liquefying terminals on their territories, but the proposals will be considered after AGRI implementation," Abbasov said.
On September 14, 2010 in Baku SOCAR, Romgaz and GOGC signed a memorandum of mutual understanding between Azerbaijan, Romania and Georgia to establish a joint company to implement the AGRI project. The project envisages deliveries of liquefied gas from Azerbaijan to Romania via Georgia.-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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