BAKU, Azerbaijan, December 9. Azerbaijan’s annual insurance cost for the telecommunications satellite Azerspace-1, which is currently in orbit, has been estimated at 2.4 million manat ($1.4 million), Trend reports.
According to the single Internet portal for public procurement, the Azerbaijan National Space Agency (Azercosmos) has already begun preparations for insurance coverage.
To note, the contract term is one year. This period covers the period from February 1, 2025 through February 1, 2026.
The insured value of the satellite is reported to be $53 million.
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