JAN. 4 2015, (The Conway Bulletin) — Azerbaijan may have serious problems making its national budget work with oil prices dropping below $50/barrel, media reported (Jan. 4). The government’s budget estimates are calculated at oil costing $90/barrel. Oil revenues directly contribute over half the government’s revenue.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 213, published on Jan. 7 2015)
DEC. 5 2014 (The Conway Bulletin) – Bank of Georgia, which is listed on the London stock exchange and is the largest bank in the country, said it wanted to buy the Georgian subsidiary of Ukraine’s PrivatBank. PrivatBank is Ukraine’s largest bank. Bank of Georgia said that it had agreed a preliminary deal to buy the bank for $51m.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 212, published on Dec. 10 2014)
DEC. 5 2014 (The Conway Bulletin) – The consortium developing the Karachaganak oil and gas site (KPO) in west Kazakhstan denied that a gas leak at its plant poisoned 20 children and three teachers at a school in a nearby village.
Ambulances rushed the children and teachers to hospital after they suddenly fainted on Nov. 28.
KPO made the statement after Kazakh media widely quoted the Prosecutor-General for Kazakhstan’s western region, Serik Karamanov, saying that there had been a brief gas leak the day before the mass fainting at the Karachaganak site only a few kilometres away from the village.
The KPO statement said: “A mobile environmental monitoring station has also been despatched to Berezovka village and has reported no exceedances above the official Maximum Permissible Concentration limits.”
Whether the Kazakh authorities agree, remains to be seen.
Mr Karamanov was clear about what he thought may have been the cause of the poisoning.
“It has been established that at 14:19 on November 27 at the gas-processing complex of KPO, there occurred a discharge of condensate for a period of two minutes,” he said according to local media reports.
The incident is a reminder of the tension at local levels between the foreign-led projects in the energy sector and local communities who accuse them of not doing enough to protect their environment.
Karachaganak is important to Kazakhstan. It is considered one of the country’s most successful projects, and produces around 40% of Kazakhstan’s gas and 13% of its oil. Britain’s BG Group and Italy’s ENI own a 29.5% stake each, Chevron owns 18%, Russia’s Lukoil owns 13.5% and the Kazakh state oil and gas company, KazMunaiGas owns 10%.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 212, published on Dec. 10 2014)
DEC. 6 2014 (The Conway Bulletin) – Turkmenistan plans to sell 200,000 tonnes of flour on the international market, media reported, part of its strategy to diversify its exports away from just oil and gas. Importantly, the sale may also help other Central Asian and South Caucasus countries suppress rising bread prices
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 212, published on Dec. 10 2014)
DEC. 5 2014 (The Conway Bulletin) – In a reminder of the Kazakh car-making boom over the past few years, French manufacturer Citroen- Peugeot said it had entered into a joint-venture to produce its models at the SaryarkaAvtoProm plant in Kostanay in north Kazakhstan. Many Western car-makers are already producing cars in Kostanay.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 212, published on Dec. 10 2014)
DEC. 4 2014 (The Conway Bulletin) – As part of its modernisation scheme, Uzbekistan Airways has said it wants to sell three Airbus A-310 and three BAE Systems RJ-85 passenger aircrafts, media reported. The combined sale is worth nearly $50m. Uzbekistan Airways has been looking to upgrade its fleet throughout the year.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 212, published on Dec. 10 2014)
DEC. 3 2014 (The Conway Bulletin) – The presidents of Turkmenistan, Kazakhstan and Iran formally opened a railway line that will connect the three countries. At the event in Ashgabat, the leaders said that the railway line would increase trade between Central Asia and Iran and help ignite a new north-south Silk Road.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 212, published on Dec. 10 2014)
DEC. 9 2014 (The Conway Bulletin) – Kazakhstan unveiled a project to build a six-lane 66km ring-road around Almaty which they hope will both ease congestion in the city and provide a new financing model for major infrastructure projects.
The FT reported that the number of cars in Almaty has exploded by 50% in the last five years. Anybody walking around its choked-up streets at rush hour will be able to taste the exhaust fumes in the air.
With support from the European Bank for Reconstruction and Development (EBRD), Kazakhstan has launched a plan to raise $680m in what has been dubbed its first internationally-tendered public-private partnership scheme.
Importantly, as the EBRD’s infrastructure chief, Thomas Meier, said the project is a test of Kazakhstan’s attractiveness and in particular law changes made this year. Most important of these was that any disputes concerning infrastructure developments would be settled by international arbitration.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 212, published on Dec. 10 2014)
DEC. 2 2014 (The Conway Bulletin) – Kazakh president Nursultan Nazarbayev and Iranian president Hassan Rouhani flew to Ashgabat for separate bilateral talks with Turkmen president Kurbanguly Berdymukhamedov as well as for the long-awaited inauguration of a new railway that will connect the three countries.
The inauguration ceremony for the 935km Ozen-Bereket- Gorgan line is due on Dec. 3. It will vastly reduce travel time and, it is hoped, boost north-south trade.
“This route will permit the region’s development and prosperity,” Turkmen leader Kurbanguly Berdymukhamedov was quoted by media as saying. “This event will go down in the history of our countries.”
A statement from Mr Nazarbayev’s office said they thought the railway route would increase trade by three- fold.
Predictions of trade increases generated by the new railway are, by their very nature during this period of economic uncertainty, difficult to gauge. What is more certain, though, is that Central Asia’s links with Iran will improve further.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 211, published on Dec. 3 2014)
NOV. 26 2014 (The Conway Bulletin) – Kyrgyzstan has invited companies to compete in a tender to build two hydropower stations, hydroworld.com, the industry new website, reported. The projects, supported by the European Bank for Reconstruction and Development (EBRD), highlight how important hydropower is to Kyrgyzstan.
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 211, published on Dec. 3 2014)
