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WB Hopes for Conformity of Azeri Regional Energy Prices with International Market

Oil&Gas Materials 16 December 2006 13:22 (UTC +04:00)

The World Bank (WB) hopes that in the near future, the prices for the energy carriers in the regions of Azerbaijan will be drawn near to the international prices. The Chief Economist of the WB for South Caucasus, Christian Petersen commented that it is possible to increase the prices for the energy carriers in Azerbaijan next year, Trend reports. We have been informed of the discussions between Azerbaijan, Russia and Georgia regarding increase in prices for gas. I am sure that we will see the time when the prices for the energy carriers in the regions will correspond with international market. I consider that the negotiations of the Azerbaijani Government with the Russian Government, as well as Georgia with Turkey were successful, Petersen said. At the same time, he does not exclude the probability of increasing the energy prices in 2007 to cover the expenses on the import or production of gas. According to him, the addressed social aid program realized in Azerbaijan may help protect the poor layers of the population from this increase.

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