MAY 14 2015 (The Conway Bulletin) – Outside the financial sector, SOCAR, Azerbaijan’s state energy company, is the largest company in Georgia, media reported quoting research from Ilia University in Tbilisi. SOCAR Petroleum Georgia is a SOCAR subsidiary. Its main business in Georgia is a network of petrol stations.
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(News report from Issue No. 232, published on May 20 2015)
SUMQAYIT/Azerbaijan, MAY 20 2015 (The Conway Bulletin) — Absheron, the narrow peninsula surrounding Azerbaijan’s capital Baku, gives a remarkable insight into the country’s patchy oil-funded growth.
Dystopian industrial decay, dirty villages of crumbling homes and bleak oil fields of rusty drills share the same few dusty square miles with newly built sumptuous seaside resorts, whitewashed villas and long stretches of crowded beaches dotted with flashy restaurants and garish wedding palaces.
The coexistence of opposites is arguably not a harmonic one. Embarrassed by the deteriorating state of Absheron’s infrastructure and the dire living conditions of much of its population Azerbaijan’s political elite seems to have opted for the creation of a Potemkin-façade of disproportionate lavishness.
Along the modern highway connecting Heydar Aliyev International Airport to the resort town of Buzovna high marble walls veil the view of surrounding shantytowns and oil spills.
Azerbaijan’s government indulges in creating unrepresentative showcases of the country, while the huge revenues of the oil and gas industry centred in and around Absheron, fail to filter down to the local inhabitants.
The uneven distribution of both profits and investments is epitomised by the fate of Sumqayit, Absheron’s biggest town. A thriving industrial centre during Soviet times, this northern shore town of concrete blocks and wide alleys now feels abandoned.
Resentment towards the government is high in Sumqayit and the town has become a breeding ground for religious extremism. Last year there were reports that Sumqayit had become a hotbed for Syria-bound would-be jihadists and a string of arrests and search operations were carried around town.
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(News report from Issue No. 232, published on May 20 2015)
MAY 18 2015 (The Conway Bulletin) – Kazakhstan could buy a 29.25% stake in the Karachaganak oil and gas project in the north of the country when Shell completes its buyout of BG Group next year, BG Group said in its annual report.
Kazakhstan has been looking to increase its stake in various projects. Karachaganak was one of the last major operations that the Kazakh government took a stake in. It bought a 10% stake in Karachaganak for $3b in 2012.
Now, with Shell buying BG Group, Kazakhstan has the opportunity to buy a far larger chunk of Karachaganak.
“It is possible that the Republic of Kazakhstan may claim to have a right to acquire the Group’s interest in the Final Petroleum Sharing Agree- ment governing the operation of the Karachaganak gas and con- densate field in the event of a change of control of BG Group following a takeover bid,” BG Group said.
The Kazakh government hasn’t commented.
Karachaganak is one of BG Group’s most prized posses- sions, accounting for 9% of its revenues in 2014. Analysts have said that BG Group’s stake maybe worth around $4.4b.
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(News report from Issue No. 232, published on May 20 2015)
MAY 20 2015 (The Conway Bulletin) – At an energy conference, Suleymanmurad Guladov, a senior Turkmen energy official, said the government expected foreign investors to pump $3b into looking for gas reserves on its Caspian Sea shelf, Reuters reported. This is a rise from the $2.5b invested last year, Mr Guladov said.
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(News report from Issue No. 232, published on May 20 2015)
MAY 13 2015 (The Conway Bulletin) – Uzbekistan will increase oil and gas production by 9% in the next five years, Uzbekneftegaz the state oil and gas company, said. Media quoted Uzbekneftegaz representatives at a conference in Tashkent aimed at foreign investors.
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(News report from Issue No. 231, published on May 13 2015)
MAY 13 2015 (The Conway Bulletin) – Shokir Fayzullayev, head of Uzbekneftegaz, the Uzbek oil and gas company, said Uzbekistan intends to start an $18.65b investment project that will re-orientate its strategy for gas towards refining it rather than exporting it. Mr Fayzullayev said Uzbekistan wanted to add more value to its gas production.
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(News report from Issue No. 231, published on May 13 2015)
MAY 13 2015 (The Conway Bulletin) – In Vienna, Austrian president Heinz Fischer told Turkmen President Kurbanguly Berdymukhamedov that Austria wanted to buy Turkmen gas. Europe is trying to persuade Turkmenistan to send its gas west to Europe. Turkmenistan is looking for more clients for its gas.
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(News report from Issue No. 231, published on May 13 2015)
MAY 8 2015 (The Conway Bulletin) – Turkmenistan exported 6.5% more gas in the first quarter of this year than it did in the same period of 2014, media reported quoting government figures. It also produced around 5% more gas.
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(News report from Issue No. 231, published on May 13 2015)
MAY 13 2015 (The Conway Bulletin) – Turkmenistan has finished building a pipeline that crosses the country from east to west, Turkmen president Kurbanguly Berdymukhamedov said on a trip to Vienna.
The pipeline connects Shatlyk, near the giant gas field of Galkynysh, to Belek, a few kilometres south of Turkmenbashi, on the Caspian Sea coast.
The east-west flow of the pipeline shows that Turkmenistan is poised, eager even, to send gas to Europe. Mr Berdymukhamedov hinted, strongly, at a similar reason for the pipeline.
“The construction of this pipeline, which is capable in the long term, if necessary, to transport large volumes of Turkmen energy resources in the right direction, will provide additional guarantees for their reliable and stable export,” he said.
Europe wants to import gas from Turkmenistan. Turkmenistan, wants to broaden its client base away from China.
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(News report from Issue No. 231, published on May 13 2015)
MAY 8 2015 (The Conway Bulletin) – The chairman of Azerbaijan’s state energy company Rovnag Abdullayev said the country could produce up to 40b cubic metres of gas a year, state- linked media reported. This would propel Azerbaijan into the top tier of global producers.
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(News report from Issue No. 231, published on May 13 2015)
