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