NOV. 3 2014 (The Conway Bulletin) – Turkish president Recep Erdogan was due to visit Ashgabat on Nov. 6 for a two-day visit, media reported, his first to Central Asia since switching from being PM to the presidency in August. Mr Erdogan’s visit to Turkmenistan highlights just how important Turkmenistan has become as a global energy supplier.
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(News report from Issue No. 207, published on Nov. 5 2014)
OCT. 29 2014 (The Conway Bulletin) – Azerbaijani media has refuted a suggestion by Kazakh deputy energy minister Uzakbay Karabalin that it will be able to supply Kazakhstan with enough fuel to make up for its on-going shortfall. Kazakhstan is looking for options to make up for the shortfall, which is frustrating ordinary people.
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(News report from Issue No. 207, published on Nov. 5 2014)
OCT. 28 2014 (The Conway Bulletin) – Azerbaijan’s oil production will drop by 2.5% next year because of the continued slump in output from BP’s Azeri-Chirag-Guneshli (ACG) oil fields, Reuters reported quoting a source close to the government. ACG is currently Azerbaijan’s largest oil producing field. BP has promised to maintain output but without success.
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(News report from Issue No. 206, published on Oct. 29 2014)
OCT. 22 2014 (The Conway Bulletin) – By 2020 Kazakhstan aims to be producing 100m tonnes of oil a year, up from 82m tonnes currently, media quoted a senior official as saying. The jump in production is mainly attributed to Kashagan, the giant Caspian Sea oil field, finally starting production. It has been delayed by several years.
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(News report from Issue No. 206, published on Oct. 29 2014)
OCT. 29 2014 (The Conway Bulletin) – Goldman Sachs has said Azerbaijan is partly to blame for falling oil prices by oversupplying the market. West Texas Intermediate is trading at around $79.58 a barrel, its lowest for two years.
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(News report from Issue No. 206, published on Oct. 29 2014)
OCT. 22 2014 (The Conway Bulletin) – Kazakhstan is considering diversifying its energy transit routes because of Western sanctions imposed on Russia, media reported. One option being considered is the Baku-Supsa oil pipeline that runs from the Azerbaijani capital to Supsa on the Georgian Black Sea coast.
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(News report from Issue No. 205, published on Oct. 22 2014)
OCT. 18 2014 (The Conway Bulletin) – Armenian energy minister Yervand Zakharyan flew to Tehran for another round of talks with his Iranian counterpart on increasing gas supplies. Marginalised by their neighbours, Armenia and Iran have been trading gas and electricity since 2009.
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(News report from Issue No. 205, published on Oct. 22 2014)
OCT. 20 2014 (The Conway Bulletin) – Zaur Leshkasheli, a Russian oligarch, is suing investment bank Credit Suisse for not selling his 51 percent stake in the Kyurovdag oil field in Azerbaijan in 2008 for a high enough value, media reported. The court case should expose some of the murkier deal-making around the Caspian Sea.
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(News report from Issue No. 205, published on Oct. 22 2014)
OCT. 20 2014 (The Conway Bulletin) – Chinese steelmaker Baoshan Iron & Steel Co ltd (Baosteel) said it had won a contract to supply pipes for the TANAP gas pipeline running to Turkey from Azerbaijan. The contract is significant because it means Chinese companies are competing for contracts along the South Caucasus energy transit route.
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(News report from Issue No. 205, published on Oct. 22 2014)
OCT. 17 2014 (The Conway Bulletin) – With the price of a barrel of oil falling to a four-year low, the Kazakh government has said it will review its national budget. Kazakhstan’s economy is propped up mainly by oil revenues. With oil revenues falling and with sanctions hitting Russia, Kazakhstan’s disposable income has shrunk.
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(News report from Issue No. 205, published on Oct. 22 2014)
