Tag Archives: hydrocarbons

China extends influence in Uzbekistan

APRIL 19/20 2011 (The Conway Bulletin) – China extended its influence in Central Asia by signing gas and finance deals worth billions of US dollars with Uzbekistan during a visit by Uzbek President Islam Karimov to Beijing. In the last few years China has steadily bought assets across the region where it is competing with Russia and the West for influence.

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(News report from Issue No. 37, published on April 25 2011)

China extends its reach across Central Asia

APRIL 25 2011 (The Conway Bulletin) – In contrast to the cool reception he received when he visited the European Union in Brussels in January, China laid on smiles and a guard of honour for Uzbek President Islam Karimov’s state visit on April 19/20.

Mr Karimov was in Beijing to meet Chinese President Hu Jintao and to sign deals worth billions of dollars including an agreement to double the amount of gas Uzbekistan sells to China. The Uzbek state news website uza.uz said the deals were worth $5b and that Chinese banks had also agreed to lend $1.5b to 4 Uzbek banks for joint-ventures.

The numbers underscore just how much power and impact China can buy in Central Asia. Mr Hu hosted a similar visit to Beijing by Kazakh President Nursultan Nazarbayev in February.

Over the last few years China has steadily bought up assets across the region, subverting the influence of both Russia and the West.

For the Central Asia states, China allure is not just its wealth, its proximity and its hunger for oil and gas. For now, at least, China is also less troublesome to deal with.

Former colonial power Russia has quarrelled with Turkmenistan and Uzbekistan over the price of gas and the West has previously condemned human rights abuses, such as the shooting in 2005 of around 500 people at a protest in eastern Uzbekistan. China, instead, talks of jointly defeating terrorism, is welcoming and lays on the charm.

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(News report from Issue No. 37, published on April 25 2011)

Indian PM visits Kazakhstan and signs deals

APRIL 15/16 2011 (The Conway Bulletin) – Indian PM Manmohan Singh visited Kazakhstan and signed a number of deals. The deals included Indian state energy company ONGC Videsh buying a 25% stake in the Satpayev exploration block, one of the biggest in the Caspian Sea, and for Kazakhstan to supply India with 2,100 tonnes of uranium by 2014.

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(News report from Issue No. 36, published on April 18 2011)

Kazakhstan’s Kazmunaigas profit doubles in 2010

APRIL 18 2011 (The Conway Bulletin) – Perhaps Kazakhstan’s most important company, state oil and gas monopoly Kazmunaigas said net profits doubled in 2010 to about $2.7b, Reuters reported. Kazmunaigas did not give a reason for the profit rise.

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(News report from Issue No. 36, published on April 18 2011)

Russia increases fuel duty to Tajikistan

MARCH 25 2011 (The Conway Bulletin) – Russia has increased the tax on fuel exports to Tajikistan by 5.3%, media reported. Tajikistan imports nearly all its fuel from Russia. Last year Russia imposed a duty on oil exports to Tajikistan for the first time in 15 years. Russia has previously used tax on fuel to Kyrgyzstan to leverage influence.

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(News report from Issue No. 33, published on March 28 2011)

Russian influence grows in Kyrgyzstan

MARCH 24 2011 (The Conway Bulletin) – Russia said it would scrap tax on fuel exports to Kyrgyzstan and agreed to invest $750m in Kyrgyz hydroelectric projects, local media reported. Russia and the US are vying for influence in Kyrgyzstan where they both control an airbase.

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(News report from Issue No. 33, published on March 28 2011)

Armenia improves links with Iran

MARCH 27 2011 (The Conway Bulletin) – Underlining Armenia’s strengthening ties with Iran, President Serzh Sargsyan joined Iranian leader Mahmoud Ahmadinejad in Tehran to celebrate the Persian new year. Iran and Armenia are building a rail link and an oil pipeline. Leaders from Afghanistan, Iraq, Tajikistan and Turkmenistan also joined the celebrations.

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(News report from Issue No. 33, published on March 28 2011)

Kyrgyzstan to sell gas firm to Russia

MARCH 19 2011 (The Conway Bulletin) – Russian news agencies quoted Kyrgyz PM Almazbek Atambayev as saying during a meeting with Russian PM Vladimir Putin that Kyrgyzstan was ready to sell 75% of its gas company, KyrgyzGas, to Russia. Russia and the US are competing for influence in Kyrgyzstan, where they each have an airbase.

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(News report from Issue No. 32, published on March 21 2011)

Kazakhstan increases gas output by 12%

MARCH 15 2011 (The Conway Bulletin) – Already   Central   Asia’s   biggest   energy producer,  Kazakhstan’s  oil  and  gas  ministry published plans in the official newspaper to boost natural gas production by 12%. According to the plan Kazakhstan will produce 42b cubic metres of gas in 2011 compared to 37.4b last year pushing it into the world’s top 20 gas producers.

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(News report from Issue No. 32, published on March 21 2011)

Kazakhstan: Kazmunaigas looks to borrow $1bln

MARCH 11 2011 (The Conway Bulletin) – Kazakh energy company Kazmunaigas has asked banks for proposals to borrow $1b in a five-year unsecured loan, Reuters reported quoting unnamed sources. This is the first unsecured loan request from Kazakhstan since 2009 when the banking sector restructured. It may trigger other Kazakh companies to follow.

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(News report from Issue No. 31, published on March 14 2011)