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The next Caspian Energy Investor is issued January 10, 2008. Happy New Year 2008!
Caspian Energy Investor ¹ 42 (275) 27 December 2007
ACCENT
YEAR 2007: AZERBAIJAN - AN INDEPENDENT GAS SUPPLIER AT EUROPEAN ENERGY MARKET
The year 2007 is remarkable for launched gas exports from Azerbaijan to Europe. By now gas supplies covered Georgia and Turkey, from now on gas is already available in Greece and soon will reach other EU countries, where energy security is taken much care of. ‘Gas’ redistribution at the FSU space got accomplished and major rules of play at the gas market determined. With regard to this issue, the vagueness exists only in the position of Turkmenistan, which launched Caspian Gas Pipeline Project and still has no a firm opinion as regards the Trans-Caspian Gas Pipeline Project. Unsettled are the issues on Caspian Sea legal status - the Tehran Summit failed to reach a long-expected consensus – and the increase in Kashagan project’s cost in Kazakhstan - ExxonMobil turned to be the most intractable company.
With regard to Azerbaijan, the country has already ensured energy security domestically and is now actively participating in diversification of oil and gas exports to Europe.
KAZAKHSTAN EXPECTS DOUBLING KAZMUNAYGAS’S STOCK IN KASHAGAN PROJECT
KAZAKHSTAN IS EXPECTING RAISING THE STOCK OF KAZMUNAYGAS JSC IN KASHAGAN PROJECT FROM 8.3 TO 16.8%.
EXCLUSIVE
«SOFAZ IS A FUND FOR BOTH FUTURE AND CURRENT GENERATIONS», SHAHMAR MOVSUMOV
«With an account for multiple increase of currency mass inflow the Fund’s role in the foreign currency sterilization is growing year by year. Negative impact of currency on the domestic market is neutralized by placing Oil Fund’s major funds outside the country in foreign financial assets, securities and handing over to foreign managers», said Shahmar Movsumov, Executive Director, the State Oil Fund of Azerbaijan, in his exclusive interview with Caspian Energy Investor.
“OIL OUTPUT FORECASTS FOR AZERBAIJAN IN 2009-2010 ARE 60-62MTA – REPRESENTATIVE OF THE MINISTRY OF INDUSTRY AND ENERGY OF AZERBAIJAN
“Virtually Azerbaijan, which is taking advantage of the access to the Turkish system, is now able to secure gas volumes under Nabucco project that will run across Turkey, Bulgaria, Romania, Hungary, and Austria. In case Nabucco joins the Turkish system, which is already connected to the Azerbaijani one, it will start from Azerbaijan, not Turkey”, Idris Rzabekov, Chief, Oil and Gas Department, Ministry of Industry and Energy of the Republic of Azerbaijan said in the exclusive interview to Caspian Energy Investor.
CASPIAN REGION
Kazakhstan
OVER 60MT OF OIL PRODUCED IN KAZAKHSTAN
PRICE COLLUSION AT KAZAKHSTAN’S FEC MARKET
Kazakhstan is now ramping up oil production. As of December 19, Kazakhstan produced 64,764MT of oil, which is 4% higher vs. the respective 2006 level. Lazzat Kiinov, Deputy Minister of Energy and Mineral Resources said at the video conference in the government.
Russia - Kazakhstan - Turkmenistan
RUSSIA, KAZAKHSTAN AND TURKMENISTAN TO CONSTRUCT CASPIAN GAS PIPELINE
NURSULTAN NAZARBAYEV AND VLADIMIR PUTIN DISCUSS OIL ROUTES
Russia, Kazakhstan and Turkmenistan have agreed to transport additional gas volumes from Central Asia to Europe. On December 20 the parties signed, as it was planned, an agreement on Caspian Gas Pipeline Construction Project. For this purpose President of Kazakhstan Nursultan Nazarbayev paid a two-day working visit to Moscow. Besides gas issues, at the meetings the leaders of Russia and Kazakhstan covered other matters as well. One of number one topics discussed was enhancement of CPC’s throughout capacity for oil transportation from Kazakhstan.
Russia
Russia
Iran
Georgia
GAS
GAZPROM FAILED TO AGREE ON GAS DELIVERY AND TRANSIT WITH UZBEKISTAN
CENTRAL ASIAN COUNTRIES NEED TO DIVERSIFY GAS EXPORTS TO EUROPE
Russia and Uzbekistan failed to agree on terms of 2008 gas supplies. Last week’s talks between Gazprom’s Chairman Alexey Miller and President of Uzbekistan Islam Karimov in Tashkent proved unsuccessful.
NORD STREAM SUBMITS APPLICATIONS TO SWEDISH GOVERNMENT
OPEN DIALOGUE WITH SWEDISH AUTHORITIES REACHES NEW LEVEL
Nord Stream AG submitted application documents to the Swedish government for its planned offshore pipeline system within the Swedish Exclusive Economic Zone (EEZ).
TRANSPORTATION
Baku-Novorossiysk
Burgas-Alexandroupolis
CPC
ECONOMY
MINISTRIES AND AGENCIES ANNOUNCE TENDERS
Some ministries and agencies in Azerbaijan announced tenders for acquisition of foodstuff and medicals.
SOCAR
Exploration
Construction
Production
COMPANIES
WORLD MARKET
OPEC SUPPLIES ENOUGH OIL TO THE WORLD MARKET
Oil pieces keep growing. However, OPEC member states think the global market receives enough oil and OPEC member states supply enough hydrocarbons to maintain “stability” of prices.