AZERBAIJAN, GEORGIA & ROMANIA AGREE ON NATURAL GAS DELIVERIES

On April 13, Azerbaijan, Georgia and Romania signed a memorandum of understanding on the delivery of liquefied natural gas (LNG) from Azerbaijan to Europe.

According to the MoU, the Azerbaijani gas will be transported to Kulevi in Georgia, where it will be liquefied and transported via the Black Sea to the Romanian port of Constanta for onward delivery to EU consumers.

The MoU was signed in Bucharest by Azerbaijan’s Minister of Industry and Energy, Natig Aliyev, Romania's Minister of Economy, Adriean Videanu, and Georgia's Minister of Energy, Alexander Khetaguri.

The project, which is known as AGRI (Azerbaijan-Georgia-Romania-Interconnector), includes the construction of LNG terminals in Georgia and Romania.

The project's annual capacity is expected to be 7 billion cubic meters of natural gas, of which Romania is expected to receive 2 billion cubic meters.

The project, the implementation of which could cost between EUR 2 billion and EUR 4 billion, will be implemented by a private company formed by Azerbaijan's State Oil Company, Romanian gas producer Romgaz, and Georgian International Oil Company, as well as by a consortium of international companies and financial institutions. The new company will be headquartered in Bucharest.

Videanu said AGRI might be put in operation sooner than the Nabucco gas-pipeline project, adding that it is the fastest and the most efficient project within the European Southern Corridor for Energy and Transport.

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WORLD BANK: AZERBAIJAN ACHIEVES SIGNIFICANT RESULTS IN REDUCING POVERTY

The World Bank (WB) presented a report “Azerbaijan - Living Conditions Assessment”.

“The report reflects such issues as the rapid growth of Azerbaijan’s economy thanks to oil revenues and the impact of this growth on households,” WB Baku office head Gregory Jedzejczak said at the presentation of the report.

The report highlights the considerable decline in poverty incidence from 49 percent in 2001 to below 16 percent in 2008.

“Azerbaijan saw a substantial reduction in poverty during the 2000s, owing to significant economic growth and policies and programs that improved the distribution of wealth. Seizing the opportunity afforded by the oil boom, Azerbaijan initiated large public sector investment programs and supportive policies to increase wages and social protection transfers to the population, and institutional reforms aimed at modernizing the economy. These efforts translated into double-digit growth and an impressive reduction in poverty,” the report says.

The report underscores that the government's targeted social assistance program has been successful in channeling public transfers to the most needy.

According to WB senior economist Lire Ersado “some 2.5 million people in Azerbaijan have moved out of poverty in recent years.”

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AZERBAIJAN'S GDP PER CAPITA REACHES $9,000

The Central Bank of Azerbaijan says the GDP could be doubled through a new economic strategy based on diversification.

“GDP per capita in Azerbaijan has reached $9,000, but this is not the maximum limit,” the chairman of the Central Bank of Azerbaijan, Elman Rustamov, said.

“We need to increase the GDP per capita to $15,000-17,000. It's realistic, but requires a new model - a diversified model of economic growth,” he said.

According to him the new model of economic growth would be based on external demand, diversification of exports and increased competitiveness in Azerbaijan's economy.

“The country needs a good education system and human resources potential in order to attract the required volume of foreign investments. All these issues will be coordinated in Azerbaijan's new economic strategy which is being prepared together with relevant structures in the country and with international financial institutions,” he said.

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AZERBAIJAN SETS RENEWABLE AND ALTERNATIVE ENERGY TARGETS

Azerbaijan’s Ministry of Industry and Energy has determined the initial measures to be taken for the development of renewable and alternative energy sources.

According to the Ministry’s report, presented at an international conference on renewable and alternative energy sources in Baku, the first step within the framework of Azerbaijan’s state program on the use of alternative and renewable energy sources will be the establishment of wind parks with an overall capacity of 250 MW.

“Azerbaijan has a very high potential for wind power generation, especially on the Absheron Peninsula, where the wind speed ranges from 3 m/sec to 27 m/sec, which is considered ideal for efficient operation of wind turbines,' Natig Aliyev, Minister of Industry and Energy said.

The development plan envisions, at the first stage, the placement of 20-30 wind generators in each of the three territories - Yeni Yashma, Sitalchay and Gobustan. On the whole, it is planned to create 3-4 parks with a capacity of 100 MW each.

Speaking of solar energy Minister Aliyev said that the development of solar energy in Azerbaijan, which has 260-280 days of sunshine per year, was also promising.

“If we can have 3-5% of our electricity generated by alternative energy in a couple of years, then we will have achieved our objective,” the Minister said.

In July 2009, for the purpose of developing the alternative and renewable energy in Azerbaijan, a State Agency for Alternative and Renewable Sources of Energy was established under the Ministry of Energy and Industry.

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AZERBAIJANI SPORTSMAN BECOMES US KARATE CHAMPION

Azerbaijani Karate athletes won one gold and five bronze medals at the 2010 USA Open Karate Championship in Las Vegas.

Fayyaz Ildrimzade won gold medal in the prestigious 70 kg category.

Sanan Aliyev (67 kg), Rafiz Hasanov (75 kg), Amal Atayev (84 kg) and Niyazi Aliyev (68 kg) all came third in their respective categories.

The Azerbaijani team took bronze medal in the team championship.

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