Caspian Energy Investor ¹ 42 (231)     12 December, 2006


ACCENT


  • AZERBAIJAN, TURKEY AND GEORGIA REACH GAS AGREEMENT


    • Gazprom JSC intends to completely shift to market relations with former USSR countries by 2008. In this connection Azerbaijan and Georgia were offered to pay $230 per 1,000 cubic metres of gas in 2007. As a result, the countries of the region started searching for gas supply options. Iran and the potential of the Azerbaijan’s Shah Deniz gas condensate field are viewed as an alternative to Russia.

    Pursuant to the contracts concluded the other day in Tbilisi Azerbaijan and Georgia will consume some volumes of gas intended for export to Turkey.

    EXCLUSIVE


  • AZERBAIJAN WILL FACE NO CATACLYSMS UP TO 2015 EVEN IF OIL PRICES FALL - OGTAY HAGVERDIYEV

    •
    “The target was set to express inflation in a one-digit figure in conditions of huge currency receipts of Azerbaijan. Therefore, we consider the inflation level at 10% within the next 2-3 years to be normal on condition the growth rates of cash income of the population exceed the inflation level at least 2 times. Within 11 months nominal cash income of the population grew by 22%, whereas the inflation level reached 8%. As you see, the growth rates of cash income of the population exceed the inflation level 2.5 times”, Head of Economy & Finance-Credit Policy Department of the Cabinet of Ministers of the Republic of Azerbaijan Ogtay Hagverdiyev said in the exclusive interview to Caspian Energy Investor.

    CASPIAN REGION


  • Kazakhstan


  • EUROSTANDARDS FOR KAZAKHSTAN


    • TUB-KARAGAN TESTED

    Kazakhstan works out the strategy of shifting to the European fuel standards. According to Minister of Industry and Trade of the Republic of Kazakhstan Vladimir Shkolnik, Euro 2 standards may be introduced in Kazakhstan only by mid 2007. The public hearings, which were held in Aktau to discuss the environmental impact assessment of the geological engineering surveys before the drilling of the second exploration well in the Tub-Karagan offshore area, covered the environmental issues.

    At the same time (December 12) LUKoil Overseas sold to Mittal Investments its 50% ownership in Caspian Investments Resources Ltd. MangistauMunayGas Petroleum Company working in Kazakhstan is still preparing for sale.

  • Turkmenistan


  • Russia

    •

  • Iran-Russia


  • Iran


    • CASPIAN ECOLOGY


  • QUOTA ON STURGEON FISH CATCHING IN 2007


    • The Azerbaijan’s quota on sturgeon fish catching in 2007 will be 90 tonnes. This level will be the same as in 2006.

    GAS


    MEP


    TRANSPORTATION


  • Baku-Novorossiysk


  • Baku-Batumi


  • Bypassing Bosporus


  • Samsun-Ceyhan

    •

  • Burgas-Alexandroupolis


  • Kars-Akhalkalaki-Tbilisi-Baku




    • ECONOMY


  • NUMBER OF HOLIDAYS IN AZERBAIJAN ENHANCED

    •
    During the session held on December 8 Milli Majlis approved the Law “On changes to the Labour Code of the Republic of Azerbaijan”.

  • WORLD BANK LAUNCHES NEW PARTNERSHIP STRATEGY WITH AZERBAIJAN

    •
    The World Bank’s Board of Executive Directors approved (December 7) a new Country Partnership Strategy (CPS) for Azerbaijan. The Country Partnership Strategy is a central document defining the World Bank Group’s support to Azerbaijan to meet the country’s key development challenges, including reducing poverty, modernizing infrastructure, and improving governance and social services.

  • RUSAL ACCEPTS CONDITIONS OF AZERBAIJAN

    •
    “The leadership of RUSAL (Russkiy Alluminiy) expressed readiness to accept all our proposals. Now we are going to get a final answer so as to launch construction of an aluminium producing plant in Ganja”, Minister of Economic Development of Azerbaijan Heydar Babayev told Caspian Energy Investor.

    SOCAR


  • Construction


  • Restructuring


  • JV

    •

  • Import


  • Oil refineries


  • Drilling


  • Budget




    • CONSORTIA


  • Azeri-Chirag-Gunashli

    •


    COMPANIES


    WORLD MARKET


  • OPEC HAS NO CONSENSUS ABOUT FURTHER REDUCTION OF PRODUCTION


    • Saudi Arabia and some other members of the Organization of Petroleum Exporting Countries call upon additional reduction of production so as to balance the market, whereas the rest ones object stand against because oil prices still exceed $60 per barrel, the Cartel’s top representative told Reuters