Caspian Energy Investor ¹ 37 (270) 21 November 2006
ACCENT
«TODAY PROVEN RESERVES ALONE ARE SOME 2TCM» - ILHAM ALIYEV
FIRST TIME AZERBAIJANI GAS IS SUPPLIED TO EU MARKETS
New page opened in the history of gas industry. From now on, Azerbaijani gas is available in European market, though only in Greece. The ceremony took place last Sunday (November 18) near town of Edirne, in Ipshala checkpoint at Turkish-Greek border. President of Azerbaijan Ilham Aliyev, Prime-Minister of Turkey Recep Tayyip Erdogan, Prime-Minister of Greece Konstantinos Karamanlis, Minister of Energy and Natural Resources Hilmi Guler and US Secretary of energy Samuel Bodman took part (November 18) in the solemn ceremony of opening the gas pipeline installed between Turkey and Greece.
“AZERBAIJAN WAS INVITED TO JOIN NABUCCO PROJECT”, ILHAM ALIYEV
THERE IS NO NEED TO RAISE AZERBAIJAN’S OIL OUTPUT TO OVER 50-60 MILLION TONS IN THE FUTURE
Speaking at the session (November 14) dedicated to the state of the power sector in the country and preparation for winter President Ilham Aliyev said ‘Azerbaijan was invited to join the Nabucco project”.
EXCLUSIVE
«AZERBAIJAN – REGIONAL ICE DEVELOPMENT LEADER» - ALI ABBASOV
«Having built a major activity on close cooperation with world leading companies and countries and achieved great ICT-related successes the Ministry targets to turn Azerbaijan into a major ICT products exporter in the region. To meet this goal the state is implementing large-scale arrangements such as promotion of human capital, creation of a favourable environment and conditions so as to attract capital inflows and esnure healthy competition, encouragement and promotion of innovation and export-oriented entrepreneurship», – said Ali Abbasov, Minister of Communication and IT of Azerbaijan, in his exclusive interview with Caspian Energy Investor.
«EU’S POLICY INCLUDES LIBERALIZED MARKET» - MALCOLM WICKS
«We in the UK are committed to competition in the energy market. Our experience shows that if you can liberalize energy market with several different competing companies it will be good for entrepreneurship, investments and consumer prices regardless of consumer being physical person or a legal entity. This is our more than a decade of experience», said Malcolm Wicks, UK Minister of State for Energy, in his exclusive interview with Caspian Energy Investor.
CASPIAN REGION
Caspian Status
AZERI-TURKMEN TALKS ON CASPIAN SEA DELIMITATION UNDERWAY IN ASHGABAT
The next round of consultations for delineation of national sector in the Caspian Sea between Azerbaijan and Turkmenistan is underway in Ashgabat (November 19-22).
Kazakhstan
USD 100 PER BBL IS ACCEPTABLE FOR KAZAKHSTAN, REPRESENTATIVE OF RK MEMR
High oil prices impose a treat upon industrial production and development in both importing and producing countries. In this regard Kazakhstan is not an exception. As a large oil exporter, the country has faced a real threat of boosting domestic prices on energy carriers. Nonetheless, Kazakhstan experts do not consider a price at USD 100 per bbl a ground for oil price boost domestically.
Turkmenistan
EU, US INTERESTED IN TURKMEN GAS
US, EU are stating their interest in supplies of Turkmen natural gas, including LNG. This was sounded during the meeting between President of Turkmenistan Gurbanguli Berdymukhammedov and high officials of the EU and the US.
Russia
Georgia
GAS
TRANSPORTATION
Constanta-Trieste
Caspian Ports
EXHIBITIONS
BAKUTEL-2007 HELD IN BAKU
RF Minister of Information Technologies and Communication Leonid Reyman arrived in Azerbaijan (November 21-24) to take part in the 13th Azerbaijan International Telecommunication and Information Technologies BakuTel-2007.
ECONOMY
PRESIDENT OF AZERBAIJAN ILHAM ALIYEV PAID AN OFFICIAL VISIT TO FRANCE AND TOOK PART IN BAKU-TBILISI-KARS COMMISSIONING CEREMONY
On November 19 President of Azerbaijan Ilham Aliyev launched the official visit to France.
IN JANUARY-OCTOBER 2007 AZERBAIJAN PRODUCED 34.5 MLN TONS OF OIL AND 8.7 BCM OF GAS
For January-October 2007 Azerbaijan produced 34.5 mln tons of oil and 8.7 bcm of gas, which is the highest figure for the whole history of independent republic, Azerbaijan’s State Committee of Statistics told Caspian Energy Investor.
AZERBAIJAN’S GDP REACHED 18.7BN MANAT IN JANUARY-OCTOBER 2007
Azerbaijan’s GDP grew in January-October 2007 by 26.8% (3.8bn manat).
REVENUE PER CAPITA IN AZERBAIJAN GREW BY 38.3%
Revenue per capita in Azerbaijan during January-October 2007 grew by 38.3% over year and amounted to 1,254.4 manat ($1,458.1).
Caspian Energy Investor reports with reference to the State Statistics Committee of Azerbaijan, during the reported period the average monthly revenue per capita was 125.4manat ($145.8), up 34.7 manat over year.
The population’s revenues during the last 10 months amounted to 10.6bn manat, of which food expenses were 63.0%, tax/social security/voluntary membership fees 11.4%, and increase of capitals and deposits 25.4%.
After the tax, other mandatory payments and voluntary fees the population retains 9.4bn manat, up 2.8bn manat over year.
EMPLOYEES OF PRIVATE COMMUNICATION COMPANIES HAVE BETTER SALARIES
Personnel of transport and communication organizations increased in January-October 2007 by 1,262 over year and totaled 67,366.
KEPCO, AZERBAIJAN TO STRIKE SOME AGREEMENTS ON 700MW POWER STATION CONSTRUCTION IN EARLY 2008
Today (November 15) Anar Akhundov, Executive Director of the Azerbaijan Investment Company (AIC) and Senior Vice-President of the Korean Electric Power Corporation (KEPCO) Jin Seok Kim signed the MoU a the Ministry of Economic Development. The document concerns construction of the first turn of 700MW power station in Alat settlement (Garadagh district, Baku), Caspian Energy Investor reports.
SWITZERLAND STILL INTERESTED IN GAS SUPPLIES FROM AZERBAIJAN
Switzerland is interested in gas supplies from Azerbaijan, Minister of Economic Development and Co-Chairman of the Azerbaijan-Swiss Intergovernmental Commission for Trade and Economic Affairs (Azerbaijan) Heydar Babayev said, reports Caspian Energy Investor.
PRIVATIZATION CHECKS AND OPTIONS CIRCULATION PERIOD EXTENDED FOR 2 YEARS
President of Azerbaijan Ilham Aliyev has signed the decree “On addition measures on provision of use of privatization checks in the state property privatization process”, Caspian Energy Investor reports.
GROWTH OF FOREIGN INFLOWS IN AZERBAIJAN’S FEC TO DECLINE
In 2008 foreign investments in the oil-and-gas sector of Azerbaijan might decline two times compared to the forecasts for this year to AZN 1,277 billion (USD 1.5 billion) by the reason of accomplished construction works within the framework of large-scale projects.
SOCAR
Cooperation
Construction
Payments
CONSORTIA
Shah Deniz
SUFFICIENT GAS AT SHAH DENIZ FOR A SECOND STAGE OF DEVELOPMENT AVAILABLE
The SDX-04 appraisal and exploration well, some 70 kilometres south east of Baku, discovered a new high pressure reservoir in a deeper structure below the currently producing reservoir. The well was drilled to a Caspian-record depth of more than 7,300 metres in the south western part of Shah Deniz, Caspian Energy Investor reports.
ACG
AIOC TO EXTEND PEAK PRODUCTION AT ACG DUE TO DEVELOPMENT OF BALAKHAN FORMATION
The Azerbaijan International Operating Company (AIOC) has submitted the schedule to the government of Azerbaijan. Under the schedule, expenditures on exploration works at Balakhan formation of the Azeri-Chirag-Gunashli area shall be included in 2008 budget.
Inam
D-222
COMPANIES
WORLD MARKET
OPEC COUNTRIES READY TO FLOOD WORLD MARKET WITH OIL
BUT THEY LOSE CONTROL OVER PRICES
The Organization of Petroleum Exporting Countries (OPEC) will ensure ‘adequate, timely and sufficient’ supplies of crude to the world market, says the final communique of the third OPEC summit that recently ended in Riyadh.