12:20 - 9.12.2024

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December 9, Fineko/abc.az. Space agency Azercosmos has predicted the insurance cost of Azerspace-1 satellite in orbit for the next year.

ABC.AZ was informed at Azercosmos that the agency announced a tender procedure for purchase of satellite insurance services in orbit.

The term of the contract is one year. This period covers the period from February 2025 to February 2026. Azercosmos predicted that annual insurance of Azerspace-1 for the next year will cost 2,040,000 manats.

The value of the insured property is $53 million. And for the current year, the value of the insured property reached $66.5 million.

Currently, the satellite insurance service is rendered by PAŞA Sığorta OJSC from February 2024 to February 2025. In this regard, an insurance contract in the amount of 1,436,500 manats was concluded between the institution and the company this year.

Azerspace-1 was launched on February 8, 2013 from the Kourou cosmodrome in French Guiana by French company Arianespace with an Ariane-5 launch vehicle. The service life of Azerspace-1 is at least 17 years. The $230 million satellite was built by American company Orbital Sciences Corporation.