Caspian Energy Investor ¹ 27 (260) 14 September 2007
ACCENT
VALDAS ADAMKUS: MUTUAL AZERBAIJANI-LITHUANIAN PROJECTS SHALL REINFORCE ENERGY SECURITY AND INDEPENDENCE OF LITHUANIA
President of Azerbaijan Ilham Aliyev and president of Lithuania Valdas Adamkus discuss perspectives of mutual relations during their meeting on Thursday (September 13). Having stressed the successful development of the Lithuanian-Azerbaijani relations in all areas the Heads of State emphasized the important role of mutual visits in the development of these relations, the press service of the Administration of the Azerbaijan’s President told Caspian Energy Investor.
EXCLUSIVE
«LITHUANIA ACTIVELY SEEKING DIVERSIFICATION OF NATURAL GAS IMPORT SOURCES» - VITAS NAVICKAS
«To ensure the energy independence of Lithuania, we seek expanding the diversity of primary power sources through restoration of atomic energy and rapid increasing the specific weight of renewable and local power resources. In addition, in the National Energy Strategy we have envisaged an aspiration that a share of gas supplied from one country to generate electric power must make up not more than 30% in Lithuania’s annual fuel balance», – said Vitas Navickas, Minister of Economy, the Republic of Lithuania, in his exclusive interview with Caspian Energy Investor.
CASPIAN REGION
Kazakhstan-Turkmenistan
LEADERS OF KAZAKHSTAN AND TURKMENISTAN SHARED MUTUAL OPINION ON GAS EXPORT ISSUES
The practical implementation of Caspian Gas Pipeline Project and North-South Transportation Corridor were the main topics of talks (September 11-12) between Presidents of Kazakhstan and Turkmenistan in Ashgabat
Kazakhstan
Iran-Russia
Russia
GAS
ECONOMY
NATIG ALIYEV DUE TO TAKE PART IN CONFERENCE «GAS FOR EUROPE: NEW COMPETITION, ROUTES, SUPPLIERS - A ROLE FOR NABUCCO»
An international conference «Gas for Europe: New Competition, Routes, Suppliers - A Role for Nabucco» will take place in Hungary with participation of Azerbaijan.
AZERBAIJAN APPROVES BUILDING A NUCLEAR REACTOR IN THE COUNTRY
On September 17-21 Azerbaijan is expected to join the IAEA nuclear energy plants-related convention at the 51st conference in Vienna.
AZERBAIJAN INVITES WB TO TAKE PART IN BAKU-TBILISI-KARS RAILWAY CORRIDOR PROJECT
Heydar Babayev, Azerbaijan’s Economic Development Minister, and Peter Thompson, Director of Infrastructure Sector in the Europe and Central Asia Region of the World Bank, met to discuss perspectives of cooperation between Azerbaijan an the World Bank.
AZERBAIJAN, IEA DISCUSS OPPORTUNITIES OF TURKEY- GREECE-ITALY AND NABUCCO GAS PIPELINE PROJECTS IMPLEMENTATION
Yesterday (September 10) Azerbaijan’s Foreign Minister Elmar Mammadyarov and Deputy CEO of the International Energy Agency (IEA) William Ramsey discussed the opportunity for Azerbaijan to join Turkey-Greece-Italy and Nabucco gas pipeline projects.
INTERNATIONAL DEVELOPMENT FUND OF GUAM ESTABLISHED
The International Development Fund of GUAM public organization has been established at the conference in Kiev. It was attended by political and diplomatic representatives of the member countries of the Organization for Democracy and Economic Development-GUAM and the diplomatic corps.
NBSF GRANTED 49.4MLN MANAT OF CREDITS TO BUSINESSMEN IN 2007
As of September 1, 2007 the National Business Support Foundation (NBSF) with the Ministry of Economic Development of Azerbaijan granted 49.4 out of 80mio manat purposed for beneficial crediting of business this year.
EXHIBITIONS
1ST AZERBAIJAN INTERNATIONAL EDUCATION AND CAREER EXHIBITION WILL TAKE PLACE FOR THE FIRST TIME IN THE CASPIAN REGION
On September 27-29, the 1st Azerbaijan International Education and Career Exhibition will take place for the first time in the Caspian region.
SOCAR
THROUGH 2007 SOCAR PRODUCED 5884.9 TONS OF OIL AND 6543.72 MILLION M3 OF GAS
The State Oil Company of Azerbaijan has released the volumes of oil and gas production. In January-July 2007 SOCAR produced 5884.9 thousand tonnes of crude oil and 6543.72 million m3 of gas.
SOCAR EXPANDING RELATIONS WITH IEA AND WB
SOCAR President Rovnag Abdullayev has met with the delegation of the International Energy Agency headed by William Ramsey, IEA Deputy Executive Director and the delegation of the World Bank headed by Peter Thomson, Director of Infrastructure Sector in the Europe and Central Asia Region.
CONSORTIA
ACG
WORLD MARKET
OPEC RAISED PRODUCTION QUOTAS
OIL PRICES PASSED HISTORICAL $80/BBL CEILING
The Organziation of Petroleum Exporting Countries (OPEC) decided to raise oil production quotas in November by 0.500mbd from the current 25.8mbd, said Minister of Industry and Energy of Qatar Abdallah bin Hamad al-Atyyi, sounding the decision of OPEC’s 145the regular conference. Meanwhile, oil prices hit historical ceiling in amount of $80/bbl.