Author Archives: admin

Strong GDP growth, says Turkmen President

MAY 7 2016 (The Conway Bulletin) – Turkmen president Kurbanguly Berdymukhamedov said that the country’s GDP was 6.3% higher in January-April 2016 than the same period in 2015. The EBRD has predicted Turkmenistan’s GDP will increase by 6.5% this year and 7.1% in 2017. Last year, Mr Berdymukhamedov devalued the manat currency by 19% and imposed austerity measures, phasing out free gas supplies and other subsidies.

ENDS

(News report from Issue No. 280, published on May 13 2016)

US freezes Kazakh businessman’s assets

MAY 6 2016 (The Conway Bulletin) – A US court froze a $21m payment that Kazakh businessmen Mukhtar Ablyazov and Viktor Khrapunov had sought from the sale of their stakes in Chetrit’s Flatotel, a hotel located in New York City. In 2013, French police arrested Ablyazov, charging him with embezzlement. Courts in Kazakhstan, Switzerland and the US have opened investiga- tions into corruption allegations aimed at Khrapunov when he was mayor of Almaty between 1997 and 2004.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Azerbaijani SOCAR announces gas deal with Russia

MAY 11 2016 (The Conway Bulletin) – The head of SOCAR, Azerbaijan’s state energy company, Rovnag Abdullayev, announced that the company would buy from Russia’s Gazprom 5b cubic metres annually. SOCAR needs the gas to hit growing demand and also to inject into oil wells to expand production. Relations between Russia and Azerbaijan have been improving.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Court in Tajikistan sentences opposition

MAY 11 2016 (The Conway Bulletin) – A Tajik court sentenced Bakhtiyor Nazarov, son of former deputy minister of defence Abdukhalim Nazarzoda, to 22 years in prison for inciting riots and calling for a revolution. In September 2015, Nazarzoda allegedly organised a coup against President Emomali Rakhmon. The Tajik security forces later killed Nazarzoda and accused several members of the opposition Islamic Renaissance Party of masterminding the attack.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Russia says it needs to approve Turkmen-Azeri trans-Caspian pipeline

MAY 12 2016 (The Conway Bulletin) – Russia’s ambassador-at-large for Caspian affairs, Igor Bratchikov said that the Kremlin will not allow the construction of any projects across the Caspian Sea that are not sanctioned by all littoral states. “Unilateral action on construction of Trans-Caspian pipelines is inadmissible,” Mr Bratchikov said. Azerbaijan and Turkmenistan have discussed for years the possibility of building a trans-Caspian gas pipeline.

ENDS

(News report from Issue No. 280, published on May 13 2016)

ADB lines up $1.5b loan for Azerbaijan’s Shah Deniz

MAY 6 2016 (The Conway Bulletin) – The Manila-based Asian Development Bank (ADB) said it is considering a series of loans worth a total of $1.5b to fund the second phase of Azerbaijan’s Shah Deniz offshore gas project, local media reported.

In March, the ADB had said it was considering lending $450m to Shah Deniz, which will be the main supplier for the so-called Southern Gas Corridor network of pipelines designed to pump gas from the Caspian Sea to Europe.

“The proposed investment plan will support the Azerbaijani government’s efforts to finance Shah Deniz- 2 project,” the bank said in a statement. “The investment plan is expected to be approved on August 22 by ADB’s board of directors.”

A consortium led by BP and SOCAR, Azerbaijan’s state-owned energy company, which will be the beneficiary of ADB’s loans.

The ADB said it will reach a final decision on the amount of the loans after a site visit in June.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Rights groups accuse Tajik government over internet blackout

MAY 12 2016 (The Conway Bulletin) – Rights groups accused the Tajik government of blocking several news websites for two days, including Asia Plus and Radio Free Europe/Radio Liberty. Tajikistan is building up to a referendum on May 22 on extending the President’s powers, creating a potentially nervy period. Media freedom lobby groups regularly rank Tajikistan as one of the least free countries in the world.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Uzbekistan Airways opens new routes to Russia

MAY 6 2016 (The Conway Bulletin) – National carrier Uzbekistan Airways said it will open a new route to the Russian city of Voronezh, in south- western Russia. It will fly once every week connecting Tashkent and Voronezh from June 14. Thousands of Uzbek migrants work in Voronezh, in factories and in the construction sector.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Armenian ministry announces construction of transmission line

MAY 9 2016 (The Conway Bulletin) – Armenia’s ministry of energy said construction of a 220kV transmission line between the Hradzan thermal power plant and the Shinuayr substation will be completed by the end of the year. The 230km-long transmission line will be an important link between power generating centres in Armenia. The World Bank’s International Bank for Reconstruction and Development said it would fund the project with a series of loans.

ENDS

(News report from Issue No. 280, published on May 13 2016)

Stock market: Central Asia Metals, KAZ Minerals

MAY 13 2016 (The Conway Bulletin) – Copper prices dipped below the psychological threshold of $2/lb in mid January, for the first time since 2009, and it has bit of a roller-coaster ride since.

Shares of Central Asia Metals and KAZ Minerals, two Kazakhstan– focused producers, have followed copper’s ups and downs.

As shown in the graph above, shares in KAZ Minerals, which mines copper in northern and eastern Kazakhstan, have fluctuated more dramatically with copper prices.

Shares in Central Asia Metals, have been more stable.

With copper prices now sliding back towards $2/lb, share prices for both Central Asia Metals and KAZ Minerals are falling. This week, they were down 5.3% and 9% respectively.

ENDS

(News report from Issue No. 280, published on May 13 2016)