FEB. 4 2014 (The Conway Bulletin) — The CEO of Italian energy company ENI, Paolo Scaroni, flew to Ashgabat to meet with Turkmen president Kurbanguly Berdymukhamedov. Mr Scaroni talked up the prospects of ENI exploring for oil and gas in the Turkmen sector of the Caspian Sea. Most of Turkmenistan’s main gas projects are currently onshore.
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(News report from Issue No. 170, published on Feb. 5 2014)
JAN. 27 2014 (The Conway Bulletin) — Output from the Chevron-led oil project Tengizchevroil rose to 27.1m tonnes in 2013 from 24.2m tonnes in 2012, media reported. The Tengiz oil field is one of the biggest in Kazakhstan and, with the giant Caspian Sea Kashagan oil project stalling, the figures are good news for the Kazakh economy.
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(News report from Issue No. 169, published on Jan. 29 2014)
JAN. 22 2014 (The Conway Bulletin) — The European Bank for Reconstruction and Development approved a $200m loan to Russian energy company Lukoil for the development of the Shah Deniz gas field in the Azerbaijani sector of the Caspian Sea. Lukoil holds a 10% stake in Shah Deniz. The shareholders in Shah Deniz want to extend the lifespan of the field.
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(News report from Issue No. 169, published on Jan. 29 2014)
JAN. 17 2014 (The Conway Bulletin) — Armenia’s government ratified a deal to sell its 20% stake in Armenian gas supplier ArmRusGazprom. The deal gives Russian gas monopoly Gazprom 100% ownership of ArmRusGazprom and, therefore, control over Armenia’s gas supply. Last year, Armenia surprised the EU by deciding to join the Russia-led Customs Union.
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(News report from Issue No. 168, published on Jan. 22 2014)
JAN. 16 2014 (The Conway Bulletin) — Azerbaijan cut gas supplies to Russia, potentially inflaming relations between the two neighbours. SOCAR, Azerbaijan’s state-owned energy company, said it had suspended gas flowing along a pipeline to Russia because of construction work. Importantly it didn’t give an expected re-start date.
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(News report from Issue No. 168, published on Jan. 22 2014)
JAN. 15 2014 (The Conway Bulletin) — The consortium developing the Trans-Anatolian Pipeline (TANAP) invited applications to take part in a tender to build compressor, pressure and metering stations. Azerbaijan’s state energy company SOCAR and Turkey’s Botas and TPAO are developing TANAP which will pump gas from the Caspian Sea to the Turkish-Greek border.
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(News report from Issue No. 168, published on Jan. 22 2014)
JAN. 16 2014 (The Conway Bulletin) — As part of its stated strategy to boost energy production, Kazakhstan intends to auction the right to explore eight or nine oil and gas fields this year, media reported quoting energy minister Uzakbay Karabalin. In 2013, Kazakhstan auctioned off three exploration blocks after a moratorium lasting a few years.
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(News report from Issue No. 168, published on Jan. 22 2014)
JAN. 13 2014 (The Conway Bulletin) — SOCAR, Azerbaijan’s state-owned energy company, is considering buying a network of petrol stations in Turkey, media reported. Media said it was eyeing up the Petrol Ofisi filling stations, owned by Austria’s OMV, the largest network in Turkey. If the sale does materialise it will be one of SOCAR’s biggest overseas investments.
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(News report from Issue No. 167, published on Jan. 15 2014)
JAN. 10 2014 (The Conway Bulletin) — In 2013 the port of Aktau, on Kazakhstan’s Caspian Sea coast, handled 8% less trade compared to 2012.
This is significant because Aktau is one of the biggest trading posts into and out of Kazakhstan. Unsurprisingly oil and oil-based products form 60% of Aktau Port’s trade volumes. Last year oil shipments through Aktau dropped by 20%, a significant drop and one that needs to be analysed.
The drop is probably down to a shift in the direction that oil has been travelling. Previously, Kazakhstan had sent most of its oil West across the Caspian Sea to Europe via Azerbaijan or north through Russia’s pipeline network. This has changed significantly over the past few years and Kazakh oil is now flowing east to China.
The drop in trade at Aktau is important as it is probably a byproduct of increased Chinese demand for Kazakh energy.
Of course, as Kazakhstan’s economy grows, so should all trade volumes at Aktau — especially, and importantly, non-oil trade volumes.
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(News report from Issue No. 167, published on Jan. 15 2014)
JAN. 8 2014 (The Conway Bulletin) — The consortium of companies developing the Kashagan oil field in the Caspian Sea said it was working on restarting production but declined to give a date. A gas leak shut down production at Kashagan, Kazakhstan’s most high-profile energy project, in October around a month after the project officially opened.
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(News report from Issue No. 167, published on Jan. 15 2014)
