Tag Archives: Azerbaijan

Markets: Azerbaijan gold miner still waiting for permission to reopen mine

APRIL 23 2024 (The Bulletin) — Stocks generally moved down over the past week, although Anglo Asian Mining, the Azerbaijan-based gold miner showed an upward shift. Analysts warned, though, that this may be a short-term lift as Anglo Asian is still waiting for permission to restart operations at its Gedabek gold and copper mine in western Azerbaijan.

This is its biggest and most important mine and the company has said that it can’t give full guidance on 2024 potential earnings until it knows when it can reopen the mine.

This has been closed since the middle of last year because of a row over how Anglo Asian stores its poisonous waste matter.

Its share price on the London Stock Exchange has roughly halved over the past 12 months to around 68p.

In other equities news, media reported that BAE Systems, the British arms manufacturer, had increased its stake in Air Astana to 16.95% from 15.3%. Until its IPO earlier this year, BAE Systems had owned a 49% stake in Air Astana, Kazakhstan’s national airline.

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— This story was published in issue 565 of the Central Asia & South Caucasus Bulletin, on April 23 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

Aliyev meets Putin in Kremlin days after Russian soldiers quit Nagorno-Karabakh

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BAKU/YEREVAN/APRIL 22 2024 (The Bulletin) — Ilham Aliyev, Azerbaijan’s president, flew to Moscow to meet with Vladimir Putin, Russia’s leader, five days after the Kremlin pulled 2,000 Russian soldiers out of Nagorno-Karabakh.

Under a 2020 peace agreement between Azerbaijan and Armenia, the soldiers had a mandate to remain in the disputed region until 2025 but the Kremlin said that they were no longer needed.

“Geopolitical realities in the region have changed and there are no more operational functions left for them,” said Dmitry Peskov, the Kremlin spokesman. Instead, the soldiers will redeploy to Russia’s war in Ukraine.

In the Kremlin, Mr Aliyev and Mr Putin shook hands and smiled warmly for the camera. They said that they had discussed “regional security” but did not reference Nagorno-Karabakh or the war in Ukraine.

Analysts have said that Russia’s withdrawal from Nagorno-Karabakh either represents a weakening of the Kremlin’s influence in the region or the emergence of a security pact between Baku and Moscow.

Armenian officials have accused Russia of betrayal and Nikol Pashinyan, the Armenian PM, has said that he wants to leave the Kremlin’s CSTO security pact.

Azerbaijan recaptured the whole of Nagorno-Karabakh in September when a lightning-quick strike grabbed Stepanakert, the rebel capital. Around 120,000 ethnic Armenians fled after the attack and Yerevan has accused Azerbaijan of ethnic cleansing.

On April 16, Armenia lodged an ethnic cleansing case against Azerbaijan with the Hague-based International Court of Justice.

Armenia has also agreed to transfer four villages demanded by Azerbaijan, a move described as an important milestone towards peace. Mr Aliyev had demanded the villages because he said that, historically, they were Azerbaijani.

The decision to hand over the villages has triggered protests but the Armenian government said it cuts the risk of war with Azerbaijan.

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— This story was published in issue 565 of the Central Asia & South Caucasus Bulletin, on April 23 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

Iran, Russia and Azerbaijan to link power grids

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APRIL 21 2024 (The Bulletin) — Iran’s energy ministry said that a project to link the Iranian, Azerbaijani and Russian power grids will start towards the end of the year. The deal is seen as important by Iran because it can import much-needed electricity to its northern regions. Russia has pushed the project as part of its improved relations with Iran since it invaded Ukraine. The three countries have also been working on a south-north trade corridor.

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— This story was published in issue 565 of the Central Asia & South Caucasus Bulletin, on April 23 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

Armenian seperatist leader goes on hunger strike

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APRIL 19 2024 (The Bulletin) — A billionaire former leader of Armenia-backed rebels in Nagorno-Karabakh has gone on hunger strike in an Azerbaijani prison, media reported. Ruben Vardanyan was arrested in September during a lightning Azerbaijani strike on Stepanakert, the rebel capital. He was the co-founder of Troika Dialog, one of Russia’s biggest investment banks, but he renounced his Russian citizenship in 2022 and moved to Stepanakert to become a leader for several months.

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— This story was published in issue 565 of the Central Asia & South Caucasus Bulletin, on April 23 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

France recalls ambassador to Azerbaijan

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APRIL 16 2024 (The Bulletin) — France recalled its ambassador in Baku after accusing Azerbaijan of deliberately damaging relations. France is a staunch supporter of Armenia and has boosted military supplies since Azerbaijan recaptured all of the disputed region of Nagorno-Karabakh last year. Azerbaijan has refused to take part in peace negotiations mediated by France. French intelligence officials have accused Azerbaijan of spreading disinformation about the Olympic Games due to be held in Paris.

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— This story was published in issue 565 of the Central Asia & South Caucasus Bulletin, on April 23 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

BP opens new oil platform in Azerbaijani sector of Caspian Sea

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BAKU/APRIL 16 2024 (The Bulletin) — BP started oil production at a new platform at its main oil field in the Azerbaijani sector of the Caspian Sea, its first in 16 years.

The Azeri Central East platform (ACE) is the seventh in the Azer-Chirag-Gunashli field (ACG) which has been the mainstay of Azerbaijan’s oil production since 1997.

“ACE is increasing Azerbaijan’s oil production and helping to make the most of a maturing field. It’s giving both BP and Azerbaijan the opportunity to get more value from existing fields and assets,” said Ruhali Imanov, the commissioning superintendent on the platform.

Ilham Aliyev, Azerbaijan’s president, has pressured BP for years to reverse declining production rates at ACG.

Its output is expected to increase by 24,000 barrels per day this year to around 430,000 barrels per day as two more wells come on stream. Peak production at ACG was around 1m barrels per day in 2010.

BP said that the new ACE platform would produce 100,000 barrels of oil per day at its peak.

“One of its exciting features is the location of the control room onshore rather than on the platform, a first for both the region and for BP,” said BP.

In 2019, the ACG shareholders pledged to boost production with a $6b development plan.

The first oil from ACG was produced in 1997.

BP is the biggest shareholder in ACG with a stake of 30.4%, followed by Azerbaijani state oil company Socar with a 25% stake.

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— This story was published in issue 565 of the Central Asia & South Caucasus Bulletin, on April 23 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

Azerbaijan says wants to boost gas supplies to the EU

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APRIL 9 2024 (The Bulletin) — Azerbaijan aims to increase gas supplies to the EU by 17% by 2026, said Socar, the Azerbaijani state energy company. Azerbaijan has been boosting supplies to the EU since Europe cut relations with Russia after it invaded Ukraine in 2022.

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— This story was published in issue 564 of the Central Asia & South Caucasus Bulletin, on April 15 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

Turkey to streamline customs on South Caucasus railway

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APRIL 8 2024 (The Bulletin) — Turkey wants to streamline customs rules for goods carried from Asia to Europe along the 829km Baku-Tbilisi-Kars railway, part of a wider effort to boost the so-called Middle Corridor transport route (April 8). Turkish media reported that the new rules will exempt goods from physical checks, relying more heavily on x-ray images. This, officials said, should speed up journey times.

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— This story was published in issue 564 of the Central Asia & South Caucasus Bulletin, on April 15 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

Azerbaijan court sentences opposition activist to prison for drug possession

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APRIL 8 2024 (The Bulletin) — A court in Baku sentenced another opposition activist to prison for drug possession, a charge that rights groups have said it uses to silence dissenters. Elbayi Kerimli, 20, was given six years in prison. He was detained last year for graffitiing “Stalin” on a statue of the father of President Ilham Aliyev. The authorities in Azerbaijan have been cracking down on journalists and activists.

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— This story was published in issue 564 of the Central Asia & South Caucasus Bulletin, on April 15 2024

— Copyright the Central Asia & South Caucasus Bulletin 2024

Aliyev hosts president of Republic of the Congo

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BAKU/APRIL 4 2024 (The Bulletin) — Ilham Aliyev, Azerbaijan’s president, hosted Denis Sassou Nguesso, president of the Republic of the Congo, in what analysts said was part of Azerbaijan’s pre-COP29 diplomatic push.

Although no major deals were signed, both leaders said that their meeting in Baku had laid the foundation for more bilateral cooperation, especially in the energy sector.

“We have had a wide exchange of views with you today on cooperation in energy and agriculture sectors, and still there is no difference of opinion,” said Mr Aliyev. “We look forward to working together on COP29 and thank you for your support.”

The visit by Mr Nguesso was a rare one by an African leader to Baku and highlights Mr Aliyev’s growing status and also how Azerbaijan’s low key but expansive diplomatic push is paying off.

In Africa, Azerbaijan has opened embassies in Algeria, Egypt, Ethiopia, Kenya, Morocco and South Africa.

In power since 2003, analysts have said that Mr Aliyev has impressed other hardman leaders with his longevity and his defeat of ethnic Armenian forces over disputed land. Azerbaijan’s closeness with the Kremlin and gas trades with the EU, as well as its chairmanship of the COP29 environmental summit, have also given it kudos in certain circles.

“We have huge potential in the field of renewable energy, we have the sun all year round, and we can take advantage of Azerbaijan’s rich experience in this field,” said Mr Nguesso.

Mr Aliyev has been trying to woo African states for some time, carefully building relations.

He chaired the Non-Aligned Movement (NAM) in 2019-2022, a Cold War-era talking shop that was favoured by African countries looking to balance the US and the USSR.

During his tenure as NAM chairman, Mr Aliyev criticised France’s “neo-colonialism in Africa”, a dig linked to Paris’ support for Armenia.

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— This story was published in issue 564 of the Central Asia & South Caucasus Bulletin, on April 15 2024