Is AGRI Real?

It will soon be possible to speak about the economic feasibility of the Azerbaijan-Georgia-Romania Interconnector project, Prime Minister of Azerbaijan Artur Rasizade said in Tbilisi after a meeting of the Georgian-Azerbaijani intergovernmental commission. Mr Rasizade said that while this project is under development it requires a solution to many problems. “Issues of economic and financial efficiency take time and only after a few months we will be ready to say when the... Read More

State Budget of Azerbaijan for 2012 Approved

State Budget of Azerbaijan for 2012 Approved Azerbaijani President Ilham Aliyev signed the law on “State Budget of the Republic of Azerbaijan for 2012” and the decree on the application of this law. Law and order shall come into force on January 1, 2012. Note that, budget revenues approved in the amount of AZN 16,44 billion($ 21,07 billion), expenses – AZN 17,07 billion ($ 21,88 billion) including centralized income – AZN  15 938 610 .5 thousand, local – AZN 499 389.5... Read More

EU issues mandate for negotiations on readmission and visa facilitation with Azerbaijan

EU issues mandate for negotiations on readmission and visa facilitation with Azerbaijan The European Union has issued a mandate to start negotiations on readmission and visa facilitation with Azerbaijan, the organization’s press release says on Tuesday. “The Council adopted a decision authorising the Commission to open negotiations for readmission well as visa facilitation agreements with Azerbaijan and Armenia,” the press release says. Once the Commission estimates... Read More

EU to welcome any decision by Shah Deniz consortium

EU to welcome any decision by Shah Deniz consortium The European Commission will welcome any decision by the consortium of Azerbaijani Shah Deniz gas condensate field development for the selection of the pipeline route, EU Commissioner for Energy Günther Oettinger said at the Edison event in Brussels. Oettinger said the first success of Southern gas Corridor policy will come when Shah Deniz consortium names its preferred pipeline option for their gas to be delivered to Europe. “And... Read More

New fees on car insurance applied in Azerbaijan

New fees on car insurance applied in Azerbaijan Azerbaijan has introduced differentiated rates on automobile insurance, whereas earlier the payments were the same for all automobile owners, the Bureau of compulsory insurance reported on Monday. “Rates will vary depending on car (engine size, number of passenger seats), and depending on the history of accidents,” the statement said. Tariff changes are made in accordance with the law On mandatory types of... Read More

TAP open for shareholders in Shah Deniz consortium

TAP open for shareholders in Shah Deniz consortium Trans Adriatic Pipeline (TAP) project is open to shareholders in consortium of Azerbaijani Shah Deniz gas condensate field development, Managing Director of Trans Adriatic Pipeline AG, Kjetil Tungland told to leading European think-tank Friends of Europe in an interview. “We continue to remain open to other potential shareholders in Shah Deniz consortium including SOCAR, BP, and Total,” Tungland said. The Trans Adriatic... Read More

Gas export decline in Azerbaijan

Gas export decline in Azerbaijan The country still exports gas at low price of $194 The State Customs Committee (SCC) informs that according to control-measuring devices, for Jan-November 2011 country’s gas export totaled 6.358 bn cu m (including 604.005 million cu m in November, 434.3 million cu m in October, 507.847 million cu m in September, 369.379 million cu m in August, 376.319 million cu m in July, 403.167 million cu m in June, 490.45 million in May, 820.77 million... Read More

Compulsory insurance for flats and houses approved in Azerbaijan

Compulsory insurance for flats and houses approved in Azerbaijan Azerbaijan’s Financial Ministry has approved the amount of compulsory insurance premiums for residential houses and flats. Insurance tariff for residential houses and flats has been determined at 0.2% of insurance amount. Note that, the amount of compulsory insurance of houses and apartments in Baku has been considered at AZN 25,000, Ganja, Sumgayit, Nakhchivan – AZN 20,000, in other localities – AZN 15,000.... Read More

Russia’s Gazprom to ramp up imports of Azeri gas

Russia’s Gazprom to ramp up imports of Azeri gas Russian gas giant Gazprom intends to increase imports of Azerbaijani gas by 50 percent to 3 billion cubic meters in 2012, the company said. Relevant agreement was reached Thursday at a meeting of Gazprom CEO Alexei Miller and Azerbaijani state energy firm SOCAR’s President Rovnag Abdullayev. According to preliminary data, as of November Gazprom’s gas imports from the South Caucasus republic rose 70 percent compared to 2010... Read More

GDP Growth Rates Foe?

GDP Growth Rates Foe? Government agencies forecast GDP growth meanwhile international and independent organizations expects GDP decline According to State Statistic Committee of Azerbaijan Republic, GDP was 45.5billion AZN ($57.9 billion) in January to November this year, an increase of 0.2% on comparative prices in 2010. The Committee reported that industry, including Azerbaijan’s mainstay oil and gas, accounted for 54.9% of GDP, construction for 7.8%, agriculture,... Read More