Caspian Energy Investor ¹ 04 (279) 30 January 2008
ACCENT
AZERBAIJAN TAKES PART IN DAVOS FORUM
Azerbaijan took an active part in the 38th annual World Economic Forum that took place last week (January 23-27) in Davos. With this purpose President of Azerbaijan Ilham Aliyev came to Switzerland. The forum hosted 2,500 visitors from 88 countries, including 27 Heads of State and PMs, 113 ministers and reps of 1,000 leading world companies. 60% of forum participants represent a business community. The top attention drawn at the “Power of Innovative Cooperation” forum were economic instability, climate changes, as well as equal sustainable development worldwide. 240 meetings took place in five days of the forum.
SOFAZ EXPECTS 5BN MANAT OF REVENUES IN 2008
SOFAZ ASSETS REACH USD 2,475.4M
2008 budget of the State Oil Fund of Azerbaijan stipulates revenues and expenses in amount of 3.6 and 1.6bn manat, respectively. This information, Caspian Energy Investor reports, provided SOFAZ Executive Director Shahmar Movsumov. Thus, he said, by the yearend 2008 the net income shall amount to 2bn manat. «But this is a very pessimistic forecast that takes oil price $50/bbl as a basis», he said.
Movsumov also said there is a chance SOFAZ receives additional 5bn manat of income by the yearend 2008.
EXCLUSIVE
ASTRAKHAN REGION IS GOING TO DEVELOP FEC-RELATED COOPERATION WITH LITTORAL COUNTRIES – YURI MAKHOSHVILI
«Proved reserves at all fields of Astrakhan Region, both on and offshore, total 5tcm of gas and 1BT oil and condensate. Gazprom’s scientific-research institutes assess expected reserves across the Region in 7BT of standard fuel. It is a very interesting figure, considering 35% reserve-to-resource ratio», said Yuri A. Makhoshvili, Minister of FEC and Natural Resources of Astrakhan Region, in his exclusive interview with Caspian Energy Investor.
CASPIAN REGION
Kazakhstan
KAZAKHSTAN CONSIDERING INTRODUCTION OF OIL EXPORT CUSTOMS DUTY
On January 29, Tuesday the government of Kazakhstan had a session to discuss such issues as introduction of oil export customs duty from January 1, 2009 and raising tariffs on energy resources. At the government session Kazakhstan’s Prime Minister Karim Masimov demanded intensifying redemption of stocks of MangistauMunayGas JSC by KazMunayGas JSC. Mr Masimov says Kazakhstan is going to export as much oil as Russian pipeline system can ‘swallow’, while the rest volumes will be transported via Baku-Tbilisi-Ceyhan towards China.
Turkmenistan
Iran-Turkmenistan
Iran
Russia
GAS
‘DIVERSE’ OP
NABUCCO AND SOUTH STREAM GOT EACH OTHER IN DEAD EMBRACE
Russia entered the stage of active interaction with EU countries most tending to cooperate in order to promote the South Stream project. Convincing Bulgaria to become the first transit country along the route of South Stream gas pipeline, Russia obtained the project approval from Serbia and now it is aiming at Greece. To be confident in the project, Gazprom last week signed the Cooperation Agreement with Nabucco’s operator OMV AG enabling Gazprom to acquire a 50% stock in the Central European Gas Hub (CEGH). Nabucco’s stakeholders are preparing to accept new gas resource owners to implement the project.
GAS OPEC MIGHT GET SET UP IN JUNE
IMPORTING COUNTRIES ON THE BRINK OF GAS WAR
Participants of the Gas Exporting Countries Forum, including Russia, are about to set up an international organization on the base of the principles similar to those of OPEC. Its charter might be presented at the seventh forum to be held in June 2008, Moscow.
Having initiated gas OPEC Russia already now keeps raising prices for nearest neighbors. Thus, 1,000 cub meters for Lithuania cost $354, while the gas price for Ukraine grew three-fold during the recent three years.
POLAND INTENDS TO INCREASE RUSSIAN GAS TRANSIT
FINLAND OFFERS ALTERNATIVE ROUTE FOR NORD STREAM
Warsaw is going to offer Russia a route of gas pipeline ass an alternative to the Nord Stream. On the threshold of 8 February visit of Pole PM Donald Tusk to Moscow the government assigned experts to review the possibility of an onshore gas pipeline to run from Russia through Estonia, Lithuania, Latvia and Poland to Germany.
TRANSPORTATION
Odessa-Brodi
TENDERS
MINISTRIES AND AGENCIES ANNIOUNCE TENDERS
A number of ministries and organizations in Azerbaijan and Turkmenistan announced tenders for acquisition of goods, materials, spares and so.
ECONOMY
SOCAR
Drilling
CONSORTIA
Zykh-Govsany
Shah Deniz
COMPANIES
WORLD MARKET
OIL DEMAND FORECAST WILL NOT BE REVISAED
OPEC’S CONSOLIDATED OIL REVENUE IN 2007 AMOUNTED TO $675BN.
OPEC’s experts still are not reviewing any reason why to revise 2008 oil demand growth forecasts regardless of the global economy decline – this conclusion is following the monthly overview of world oil market OPEC secretariat disseminated.