Caspian Energy Investor ¹ 17 (206)     18 Ìay 2006


ACCENT


  • AZERBAIJAN OIL ON THE PATH TO CEYHAN
    ASCENDING ENERGY STAR OF THE CASPIAN SEA IS READY FOR EXPORT DIVERSIFICATION

    Presidents of Turkey, Azerbaijan, Georgia, Kazakhstan, delegations from USA and other countries are expected to participate in the official ceremony dedicated to the start up of the Baku-Tbilisi-Ceyhan oil pipeline to be held on July 13 in Ceyhan. The Prime Minister of Turkey, Recep Tayyip Erdogan invited US President George Bush to take part in the opening ceremony. This event is to become the important milestone from both the political and economic viewpoints of the countries of the Caspian and Black Sea region. Kazakhstan also follows the policy of diversification in the development of the oil and gas production sector.


  • EUROPEAN AND ASIAN ENERGY COMPANIES FOCUS ATTENTION UPON AZERBAIJAN


    The well-run infrastructure on production and transportation of the energy resources attract oil companies to development of oil and gas deposits in Azerbaijan. The State Oil Company of Azerbaijan follows the policy aimed at attraction of foreign investments in development of the Azerbaijan fields. The matter concerns both onshore and offshore fields. Along with this companies-investors of the “Contract of the Century” started paying funds to the Azerbaijan budget as profits tax.


    • EXCLUSIVE


  • CASPIAN STATUS IS LONG AND LABORIOUS WORK
    ÀAZERBAIJAN WELCOMES CONSTRUCTION OF TRANS-CASPIAN PIPELINES AS IT MAKES THE ROLE OF THE SOUTH-CAUCASIAN REGION AND AZERBAIJAN AS A LEADER IN THE GIVEN REGION MORE SIGNIFICANT, KHALAF KHALAFOV

    “All countries are interested to reach unanimity of view on the legal status of the Caspian Sea as the sea is not only the source of economic welfare but also the important transport artery connecting two seas – the Caspian and the Black Sea and two large regions – the region of the Caspian basin and the Central Asia with Eastern Europe,” – the Deputy Minister of Foreign Affairs of Azerbaijan, Khalaf Khalafov told Caspian Energy Investor in the exclusive interview.


  • GAS SECTOR OF AZERBAIJAN KEEPS ON CONSISTENTLY DEVELOPING
    TO IMPLEMENT COMPLETE TRANSFER TO MEETING IN-COUNTRY GAS NEEDS VIA INTERNAL RESOURCES IS A STRATEGIC OBJECTIVE

    “Enough volumes of gas produced from new fields will enable to completely meet in-country needs. Rational internal consumption during certain seasons of the year gives a potential opportunity to begin gas exportation,” Alikhan Melikov, the President of Azerigaz CJSC told Caspian Energy Investor in the exclusive interview.


    • CASPIAN REGION


  • Kazakhstan



  • RECONSTRUCTION OF AOR IS COMPLETED
    Reconstruction of the Atyrau Oil Refinery is completed (AOR). NK KazMunayGaz JSC told CEI about this. On May 12 the upgraded complex of equipment was solemnly started up at the Atyrau Oil Refinery. The President of Kazakhstan, Nursultan Nazarbayev took part in this ceremony.


  • Turkmenistan


  • Russia



    • CASPIAN ECOLOGY




    GAS


  • GAZPROM ENTERS BRITISH AND CHINESE MARKETS


    Russian gas monopolist Gazprom keeps on developing its networks to the West and the East. The Company is going to enter the British energy market and pins great hopes on it. Simultaneously, CNPC considers cooperation with Russian oil and gas companies to be strategic and is going to hand over its gas-distribution networks to the gas monopolist.


    • TRANSPORTATION


  • TRACECA

  • IGC TRACECA APPROVES NEW PROJECTS


    SUPPLIES THROUGH BTC OIL PIPELINE WILL NOT INFLUENCE TRANSPORTATION WITHIN THE FRAME OF TRACECA

    By now Iran, Pakistan and Afghanistan had officially confirmed their intentions to join the corridor.

    The countries of the region show interest in the Transport Corridor Europe Caucasus Asia (TRACECA) owing to implementation of international projects aimed at transportation of energy resources. The strategy of development of the Transport Corridor Europe Caucasus Asia up to 2015 was approved during the fifth session of the Intergovernmental Commission of TRACECA held in Sophia. The Commission also approves projects aimed at technical assistance for TRACECA countries.

  • Caspian ports


    • ECONOMY



    COMPANIES


  • OMV AND VERBUND ANNOUNCE MERGE


    MARKET COST OF OMV VERBUND IS ESTIMATED AS 36,8 BILLION USD

    Austrian OMV, which is the largest oil-and-gas company in the countries of Central and Eastern Europe, purchases Verbund Company, the leading Austrian energy producer. The sum of the deal exceeds 13 billion euro. The merge, which is to be completed by the end of 2006, will result in formation of the largest energy holding in Central Europe - OMV Verbund. The market cost of the holding will be 36,8 billion USD. Both companies are operated by the state.

  • PKN-ORLEN AND KAZMUNAYGAZ ARE MAIN BUYERS OF MN
    LITHUANIA WILL NEGOTIATE SALE OF MAZEIKIU NAFTA WITH CREDITORS OF YUKOS

    Lithuania has changed the strategy of negotiations about redemption of 53,7% in Mazeikiu Nafta. The shares indirectly belong to Yukos International UK B.V. The Prime Minister of Lithuania, Algirdas Brazauskas stated that the negotiations about sale of MN would be held not only with Yukos but also with its creditors.”


    • WORLD MARKET


  • GROWTH OF PRICES WILL CEASE SOON


    RATES OF GROWTH IN OIL CONSUMPTION GO DOWN

    Constantly growing prices on raw materials observed during the last time stimulate reduction of oil demand. Decrease in oil consumption in USA and former soviet countries caused the record price, Reuters reports referring to the data of the International Energy Agency (IEA). IEA forecasts this year the oil demand will grow by 1,25 million barrels a day, which is 220,000 barrels less compared to previous forecasts.