SEPT. 30 2014 (The Conway Bulletin) – In a show of mutual support, Russian president Vladimir Putin travelled to Atyrau in west Kazakhstan after a meeting of Caspian Sea littoral states in Russia to meet with Kazakh president Nursultan Nazarbayev. Russia is looking for allies over its stand-off with the West over intervention in Ukraine.
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(News report from Issue No. 202, published on Oct. 1 2014)
SEPT. 30 2014 (The Conway Bulletin) – The IMF cut its growth estimate for Armenia to 2.6% this year from 3.6% earlier and to 3.3% in 2015, down from an earlier estimate of 4.3%.The downgrades are in line with other agencies who adjusted Armenia’s growth figures downwards because of the impact of sanctions on Russia’s economy.
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(News report from Issue No. 202, published on Oct. 1 2014)
SEPT. 30 2014 (The Conway Bulletin) – Jailed Azerbaijani human rights activist and government critic Anar Mammadli has won the prestigious Vaclav Havel Prize from the Council of Europe. Mammadli is the director of the Baku-based Election Monitoring and Democracy Studies Center. He was imprisoned last year for tax evasion.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 202, published on Oct. 1 2014)
SEPT. 29 2014 (The Conway Bulletin) – Japan has signed a deal to help build local infrastructure projects in Azerbaijan such as improving basic drinking water access in villages, media reported. This may show that Japan is trying to increase its participation in the South Caucasus.
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(News report from Issue No. 202, published on Oct. 1 2014)
SEPT. 30 2014 (The Conway Bulletin) – Spanish natural gas provider Enagas bought a 16% stake in the TAP pipeline that will pump gas from the Azerbaijani sector of the Caspian Sea to central Europe.
The purchase of the shares, a 10% stake from France’s Total and a 6% stake from Germany’s E.ON underline how important European countries consider the project to be.
Belgium’s Fluxys also increased its stake to 19%. The other shareholders in TAP are BP, Norway’s Statoil and Azerbaijani energy company SOCAR all with 20% of the project. Swiss energy company Axpo also owns 5% of TAP.
Reuters quoted Kjetil Tungland, TAP’s managing director.
“The TAP joint venture has always been open to new strategic partners,” he said.
“Enagas … will help to enhance TAP’s strategic position as a truly European project that will transport a new source of gas to the continent’s energy markets.”
The pipeline is scheduled for completion in 2018. European countries consider it an essential piece of infrastructure development to diversify their gas deliveries away from Russia, through which most of its gas was being delivered.
The plan is for TAP to run 870km from the Shah Deniz II field in the Caspian Sea to the Turkey-Greece border. There it will connected to another pipeline called TANAP which will pump the gas through the Balkans and across to Italy. From Italy the gas can be re-distributed across Europe.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 202, published on Oct. 1 2014)
SEPT. 30 2014 (The Conway Bulletin) – Georgia’s prosecutor-general ordered the exhumation of the body of former PM Zurab Zhvania and ally of former president Mikheil Saakashvili who died in 2005 allegedly of carbon monoxide poisoning from a faulty heater. Despite the official verdict of accidental death, suspicions around Zhvania’s death have persisted.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 202, published on Oct. 1 2014)
SEPT. 25 2014 (The Conway Bulletin) – Kazakhstan will issue a US dollar denominated bond later this year, its first since 2000, Reuters reported. Government officials have launched a roadshow to drum up support for the debt issue. These are difficult times, though, because of the knock-on effect of sanctions on Russia.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 202, published on Oct. 1 2014)
SEPT. 28 2014 (The Conway Bulletin) – Armenian opposition groups have launched another round of anti- government protests, media reported. Around 2,000 people gathered for the first planned protest in a town outside Yerevan. Six more rallies are planned around the country with a final rally in central Yerevan on Oct. 10.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 202, published on Oct. 1 2014)
SEPT. 30 2014 (The Conway Bulletin) – Spanish natural gas provider Enagas bought a 16% stake in the TAP pipeline that will pump gas from the Azerbaijani sector of the Caspian Sea to central Europe.
The purchase of the shares, a 10% stake from France’s Total and a 6% stake from Germany’s E.ON underline how important European countries consider the project to be.
Belgium’s Fluxys also increased its stake to 19%. The other shareholders in TAP are BP, Norway’s Statoil and Azerbaijani energy company SOCAR all with 20% of the project. Swiss energy company Axpo also owns 5% of TAP.
Reuters quoted Kjetil Tungland, TAP’s managing director.
“The TAP joint venture has always been open to new strategic partners,” he said.
“Enagas … will help to enhance TAP’s strategic position as a truly European project that will transport a new source of gas to the continent’s energy markets.”
The pipeline is scheduled for completion in 2018. European countries consider it an essential piece of infrastructure development to diversify their gas deliveries away from Russia, through which most of its gas was being delivered.
The plan is for TAP to run 870km from the Shah Deniz II field in the Caspian Sea to the Turkey-Greece border. There it will connected to another pipeline called TANAP which will pump the gas through the Balkans and across to Italy. From Italy the gas can be re-distributed across Europe.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 202, published on Oct. 1 2014)
SEPT. 24 2014 (The Conway Bulletin) – The European Bank for Reconstruction and Development (EBRD) sold its 5% stake in Bank of Georgia.
The sale ends the EBRD’s mission to support Bank of Georgia after the 2008 Global Financial Crisis. It took control of the stake in 2012 after a financial aid package put together in December 2008 was converted into shares.
“The EBRD’s role in supporting Bank of Georgia in the aftermath of the 2008 crisis is now complete,” Reuters quoted Nick Tesseyman, the EBRD MD, as saying.
“The EBRD will continue to provide debt financing to Bank of Georgia going forward as part of our continued support to the Georgian financial sector.”
The Bank of Georgia is publicly listed on the London Stock Exchange.
In many ways the sale of the EBRD’s 5% stake in Bank of Georgia is a success for Georgia as a country. The EBRD would not have sold its stake if it didn’t think that the bank was stable enough and if there wasn’t enough investor interest in Georgia and its finance industry.
Bank of Georgia CEO Irakli Gilauri acknowledged this.
“This transaction illustrates the depth of support for the bank from international investors and signals increasing investor interest in Georgia’s capital market,” he said.
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Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 202, published on Oct. 1 2014)
