Tag Archives: gas

Georgia talks to Iran about gas

JAN. 4 2016, TBILISI (The Conway Bulletin) — Georgia started negotiations with Iran to buy gas and electricity, apparently strengthening its intention to diversify away from Azerbaijan as the main source for gas imports.

Energy minister Kakha Kaladze told local press negotiations could start soon.

“We will start start talking over gas as well as electricity. Iran is rich in resources and we should benefit from its resources as much as possible,” Mr Kaladze had said earlier in December.

Iran confirmed the negotiations and said it would be able to deliver between 8 and 15b cubic metres of gas to the Armenian border, from where it would be shipped north to Georgia.

Officials at Azerbaijan’s state energy company SOCAR put a brave face on news of Georgia’s negotiations, but the talks would have irritated them. When Georgia opened talks with Russia to increase gas supplies last year, Azerbaijan released a testy diplomatic note reminding Tbilisi of its contractual obligations.

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(News report from Issue No. 262, published on Jan. 8 2016)

 

Stock market: Nostrum Oil & Gas, Roxi Petroleum

JAN. 8 2016 (The Conway Bulletin) — The winter break has not been too kind to stock prices of oil and gas companies focusing on the South Caucasus and Central Asia. The continued fall in oil prices, now at around $33/barrel, has not stopped yet, which keeps investors worried.

After a rough third week of December, when they lost between 4-6%, Nostrum Oil & Gas and Roxi Petroleum shares picked up again, only to fall back to mid-December levels.

Nostrum’s 15% spike on Dec. 23 was reabsorbed in the first week of January. Roxi shares grew 60% in two days from Dec. 28, but it is now trading back at 8.25p. Tethys Petroleum suf- fered most, as its shares lost 28% .

The two Georgian companies listed in London, Bank of Georgia and Georgia Healthcare Group were hit too. Bank of Georgia lost 8.2% in the past three weeks, closing at £17.87. Georgia Healthcare Group lost 4%, closing at £1.56.

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(News report from Issue No. 262, published on Jan. 8 2016)

Frontera to give assessment for Georgian gas complex

DEC. 23 2016 (The Conway Bulletin) — US-based Frontera Resources said its final geological assessment of the South Kakheti gas complex it operates in Georgia will be completed in the first quarter of 2016. Frontera said it also plans to shortly start production, which will initially amount to 77m cubic metres of gas annually.

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(News report from Issue No. 262, published on Jan. 8 2016)

Kyrgyzstan to construct pipeline to China

JAN. 12 2016 (The Conway Bulletin) – Kyrgyzstan will begin construction work on a new gas pipeline running to China in March, media reported quoting Deputy Economy Minister Aibek Kaliev. The pipeline, which will take several years to build, will complete a route running from gas fields in east Turkmenistan through Uzbekistan and Tajikistan and on to Kyrgyzstan and China.

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(News report from Issue No. 263, published on Jan. 15 2016)

 

Kazakh TransGas names new CEO

DEC. 11 2015 (The Conway Bulletin) – KazTransGas, Kazakhstan’s gas distributor, named Rustam Suleymanov as its new CEO. Mr Suleymanov has worked at KazTransGas for 15 years. Former CEO Kairat Sharipbayev was named chairman of the board.

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(News report from Issue No. 261, published on Dec. 20 2015)

 

Deutag wins contracts in Azerbaijan

DEC. 17 2015 (The Conway Bulletin) — British services company KCA Deutag won two contracts with BP worth up to $1b for operations, maintenance and engineering work in Azerbaijan. The Aberdeen-based company will work on seven oil and gas platforms operated by BP off the coast of Azerbaijan, including those exploiting the Azeri-Chirag-Guneshli oil field and the Shah Deniz gas field, two of Azerbaijan’s most important energy projects. KCA Deutag has worked in Azerbaijan for 20 years, mostly with BP. Rune Lorentzen, president of Offshore at KCA Deutag, said: “These major contract awards build on KCA Deutag’s long standing relationship with BP, and recognise our efforts to deliver both continuous improvement and value to our client.”

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(News report from Issue No. 261, published on Dec. 20 2015)

ADB funds Azerbaijani infrastructure

DEC. 14 2015 (The Conway Bulletin) – The Asian Development Bank (ADB) said it would allocate a loan of up to $2.24b to co-finance transport and energy projects in Azerbaijan in 2016- 2017. Out of this loan, the ADB said it would allocate $500m to developing the electricity network and $40m for renewable energy.

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(News report from Issue No. 261, published on Dec. 20 2015)

 

Iran wishes expansion in Azerbaijan’s Shah Deniz

DEC. 15 2015 (The Conway Bulletin) – The Iran ministry of energy said it may expand its activities in several international oil and gas fields, including Shah Deniz, Azerbaijan’s biggest gas project.

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(News report from Issue No. 261, published on Dec. 20 2015)

 

Construction begins on TAPI with Turkmen leadership

DEC. 15 2015 (The Conway Bulletin) – After a decade of talks, Turkmen president Kurbanguly Berdymukhamedov and leaders from Afghanistan, Pakistan and India officially started construction of the TAPI pipeline that, they hope, will pump gas from Central Asia to South Asia by end-2018.

The $10b project is ambitious and fraught with risk. For a start nearly half the 1,800km route crosses Afghanistan where security has worsened over the past couple of years. This week the Asian Development Bank cut funding for a Turkmenistan-Tajikistan rail project that also crossed north Afghanistan because of security concerns.

Still, at the official opening ceremony for the TAPI pipeline in Mary, Turkmenistan, Mr Berdymukhamedov was in an upbeat mood.

“TAPI is designed to become a new effective step towards the formation of the modern architecture of global energy security, a powerful driver of economic and social stability in the Asian region,” media quoted him as saying.

By December 2018, so the plan goes, Turkmenistan should start pumping 33b cubic metres of gas a year to India.

But, as Anupama Sen, senior research fellow at the Oxford Institute for Energy Studies, explained for India, TAPI has always been more of a political, rather than gas supply, project. She said India is increasing coal production to meet power demand as it is cheaper than importing gas.

“India’s negotiations over TAPI have been driven by diplomacy,” she said.

India has been trying for years to bolster its influence in Central Asia where Russia and China are so dominant. It lost out in 2013 on a stake in the Kashagan oil field in the Kazakh sector of the Caspian Sea to China. TAPI now gives it a stake in Central Asia.

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(News report from Issue No. 261, published on Dec. 20 2015)

 

Azerbaijan’s SOCAR output falls

DEC. 15 2015 (The Conway Bulletin) – A source at Azerbaijan’s statistic committee told Reuters that SOCAR’s low output for the first 11 months of 2015 had pushed down total oil and gas production in Azerbaijan. Azeri-Chirag- Guneshli, a BP-operated offshore oilfield, also contributed to a contraction in production of 0.5%.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 261, published on Dec. 20 2015)