Category Archives: Uncategorised

Georgia to increase gas supplies from Russia

DEC. 8 2015 (The Conway Bulletin) – Georgia’s energy minister Kakha Kaladze met with Alexei Miller, the chairman of Russia’s Gazprom, in Luxembourg to discuss increasing imports of Russian gas. No deal has been signed although even the talks have stirred controversy in Georgia where memories of the 2008 war against Russia are still very fresh.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 260, published on Dec. 11 2015)

 

Coca Cola opens plant in KZ

DEC. 9 2015 (The Conway Bulletin) — Turkish producerCoca Cola Icecek will open its second plant in Kazakhstan in the first half of 2016, the chairman of the government agency KAZNEX INVESTBorisbi Zhangurazov told media.Coca Cola Icecek will operate the plant, located in Astana, which cost around $70m to build. Kazakhstan is the largest market in Central Asia for Coca Cola Icecek.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 260, published on Dec. 11 2015)

 

Markets: FDI pick up in the South Caucasus and Central Asia

DEC.11 2015 (The Conway Bulletin) – Foreign Direct Investments (FDI) are picking up again in the South Caucasus and Central Asia. After a difficult year hooked around the fall in the rouble and the drop in oil prices, investors have appeared to regain confidence in the economies of Central Asia and the South Caucasus. Or at least they have decided to just get on with it and deal with the economic downturn.

At least this is what the numbers show.

In Armenia FDI, measured by Central Banks as inflow minus outflow, reached $260m in the first 9 months of the year, a 17% increase compared to the same period last year.

In Georgia, although down 17% compared to the first three quarters of 2014, FDI grew progressively throughout the year, to reach just above $1b at the end of September.

Kyrgyzstan, which saw a surge of FDI in the first half of the year, might be on track to keep the trend going due to renewed confidence in the country’s extractive sector.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 260, published on  Dec. 11 2015)

Kashagan to start pumping oil by Dec. 2016, says Kazakh minister

DEC. 8 2015 (The Conway Bulletin) — Seemingly determined to be the bearer of positive news, Kazakh minister of economy Yerbolat Dossayev said construction on expanding the Tengiz oil project would start next April and that the Kashagan oil field would finally begin production in December 2016.

These dates confirm earlier plans to speed up the much-delayed Kashagan oil field in the Caspian Sea and expand the Chevron-led Tengiz oil- field sooner rather than later.

But some of the numbers are lower than the government had hoped for.

Deputy energy minister Magzum Mirzagaliyev said the Kashagan oil- field will reach an output of 13m tonnes/year by 2020, the equivalent of 250,000 barrels of oil/day. In June, NCOC ex-director Stephane de Mahieu said Kashagan would reach 370,000 barrels/day by the end of 2017. The NCOC consortium includes Eni, Kazmunaigas, Shell, ExxonMobil, Total, CNPC and Inpex.

Tengizchevroil – which includes Chevron, ExxonMobil, Kazmunaigas and LukArco – delayed their expansion plan to Tengiz this year because of a drop in oil prices. It has not commented on an April expansion date.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 260, published on Dec. 11 2015)

 

Uzbekistan complains over water uses, again

DEC. 10 2015 (The Conway Bulletin) – Uzbekistan once again formally complained to the OSCE, Europe’s security and democracy watchdog, about plans by Kyrgyzstan and Tajikistan to build new dams on the upstream river system

The complaint is a reminder of Uzbekistan’s opposition to hydro- power development in Central Asia’s upstream water system.

The Tajik and Kyrgyz governments see building new dams and hydro- power systems as essential for their countries’ development, and specific to meeting new power demands from Pakistan who they will serve through the CASA-1000 project. Uzbekistan sees the hydro- power systems as a threat to its cotton industry and agriculture.

CASA-1000 is the $1b World Bank- backed project for Kyrgyzstan and Tajikistan to generate electricity to export to Pakistan, via Afghanistan. This project hinges on a series of new dams being built in Tajikistan, including the Rogun Dam on the Vakhsh River, part of the wider Amu Darya system.

Relations between Uzbekistan and Kyrgyzstan and Tajikistan have become so strained in the past over the issue that at times it has threatened to destabilise the region.

With the final deal on CASA-1000 signed in Istanbul earlier this month, relations between Uzbekistan and its upstream neighbours are likely to become more strained, as this latest complaint appears to forewarn.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 260, published on Dec. 11 2015)

 

Uzbekistan’s broadband to boost

DEC. 2 2015 (The Conway Bulletin) – Uzbekistan’s telecommunications ministry said it wanted to spend nearly $900m over the next five years improving broadband access across the country. Internet penetration in Uzbekistan is still low.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 259, published on Dec. 4 2015)

EU says to give Georgia grant

NOV. 27 2015 (The Conway Bulletin) – The European Union confirmed that it was preparing to give Georgia a grant of 100m euro to help improve parts of its society and business climate. Most of the grant is directed to Georgia’s agriculture sector but public bodies and utilities will also receive a chunk of the grant.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 259, published on Dec. 4 2015)

Kyrgyzstan keeps rates steady

DEC. 1 2015 (The Conway Bulletin) – Kyrgyzstan’s Central Bank decided to keep its interest rate unchanged at 10% for the third month running because of slowing inflation. It also said that its reserves had fallen by 12% this year as it tried to defend its currency.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 259, published on Dec. 4 2015)

HRW accuses Kyrgyzstan of banning country chief

DEC. 2 2015 (The Conway Bulletin) – New York-based Human Rights Watch (HRW) accused the authorities in Kyrgyzstan of banning their Bishkek office director from entering the country and crushing free speech.

The accusation will hurt Kyrgyzstan’s international reputation as a place for Westerners to visit and for Western companies to do business. Direct foreign investment and tourism are important to Kyrgyzstan’s economy.

Mihra Rittmann, the HRW Kyrgyzstan director, said she had been refused entry at Manas airport. In June the Kyrgyz authorities had rescinded her work permit.

“Kyrgyzstan’s decision to ban me is highly disappointing on a personal as well as a professional level,” Ms Rittmann told the Bulletin from Berlin where HRW has its European headquarters.

“We are keen to clarify the grounds for the ban and to resolve the situation such that I can return to Bishkek and continue Human Rights Watch’s work in country.”

Kyrgyzstan has not commented.

According to Ms Rittmann, she saw a note at the airport which described her as a “persona non- grata”.

Over the past few years, Kyrgyzstan has shifted from a relatively pro-Western stance to a more pro-Russia outlook. As the US quit its air base outside Bishkek last year, Russia was increasing its involvement in Kyrgyzstan by boosting aid money, pulling the country into its Eurasian Economic Union trade bloc and strengthening its military commitments.

HRW in Kyrgyzstan, led by Ms Rittmann, has also been documenting what it has described as a decline in human rights and free speech, from attacks on ethnic Uzbeks and homosexuals to a new law, similar to a Russian law, that makes it harder for NGOs to accept funding from overseas.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 259, published on Dec. 4 2015)

Statoil completes sale of 20% stake in Azerbaijan’s TAP

DEC. 1 2015 (The Conway Bulletin) — Norwegian oil and gas company Statoil completed its retreat from the South Caucasus gas industry with its sale of a 20% stake in the Trans-Adriatic Pipeline (TAP), part of a pipeline network that will pump gas from Azerbaijan to Europe.

Italian pipeline company Snam bought Statoil’s TAP stake for €208m ($227m), increasing Italy’s commitment in the Southern Gas Corridor, running from Azerbaijan, through Turkey and Greece, to Italy.

Over the past two years, Statoil has quit Azerbaijan,’s gas sector selling its 25% stake in the giant Shah Deniz field and its 15.5% stake in the South Caucasus Pipeline, which transports gas from Shah Deniz to Georgia and Turkey.

Statoil hailed its sale of its stake in TAP as generating value for share- holders but the final price of €208m is lower than the €400m that industry analysts had forecasted over the summer.

Statoil still owns an 8.56% stake in the Azeri-Chirag-Guneshli field and a 8.71% share in the Baku-Tbilisi-Ceyhan pipeline.

ENDS

Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 259, published on Dec. 4 2015)