Tag Archives: business

Azerbaijan sets tall aspirations

JAN. 25 2012 (The Conway Bulletin) – A property developer in Azerbaijan has applied to the Baku city government for permission to build the world’s tallest tower, the AP news agency reported. Avesta wants to build an office complex with a 1,050m tower at its centre. The tower would be nearly a third higher than the world’s current tallest building.

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(News report from Issue No. 75, published on Feb. 2 2012)

Azerbaijan to build oil refinery in Kyrgyzstan

JAN. 19 2012 (The Conway Bulletin) – Azerbaijan’s state oil company SOCAR agreed to build an oil refinery in Kyrgyzstan. Media reported that the refinery will process 2m tonnes of crude oil a year and be operational by the end of 2013. The construction will cost $150m. China is already building an oil refinery in Kyrgyzstan.

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(News report from Issue No. 74, published on Jan. 26 2012)

Russia buys more gas from Azerbaijan

JAN. 23 2012 (The Conway Bulletin) – Russia’s Gazprom said it would buy 3b cubic metres (bcm) of gas from Azerbaijan this year, up from 500mcm in 2009 and an estimated 2bcm in 2011. Russia and Azerbaijan are competing for potential gas customers. Azerbaijan is expected to announce soon which project transporting gas to Europe from the Caspian Sea it will support.

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(News report from Issue No. 74, published on Jan. 26 2012)

IEA says unrest could slow investment in Kazakhstan

JAN. 18 2012 (The Conway Bulletin) – The Paris-based intergovernmental International Energy Agency warned that unrest last month in west Kazakhstan could slow investment in the Kazakh oil and gas sector, Bloomberg reported. This is the first warning from a major institution that violence which killed at least 17 people could impact the investment climate.

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(News report from Issue No. 73, published on Jan. 19 2012)

Tajikistan and Uzbekistan squabble over railway

JAN. 13 2012 (The Conway Bulletin) – Languishing on the Tajik-Uzbek border are dozens of railway wagons laden with food, fuel and building material bound for Tajikistan. There are plenty of potential flashpoints in Central Asia, but this backlog of railway wagons is potentially one of the most dangerous.

The Tajik authorities say that the Uzbeks are deliberately stopping the wagons from completing their journey and that this threatens to trigger a famine.

The Uzbeks counter that an important bridge which crosses the border has been washed away and it is not possible for the wagons to enter Tajikistan.

This bickering is not new. Relations between Tajikistan and Uzbekistan have been strained for most of the region’s 20 year post-Soviet history. At the source of the tension is the countries’ interlinked water-energy dynamic. While the Tajik Pamir Mountains provide vital water for Uzbek agriculture and industry, Uzbekistan provides power and transport links for Tajikistan.

But recently, to the frustration of Uzbekistan, Tajikistan (with Iranian help) has been building new dams across a major river.

The dams change the relationship between Uzbekistan and Tajikistan. They will reduce Tajikistan’s reliance on Uzbekistan for its power and, importantly, also increase its control of water supply to downstream Uzbekistan.

There are other issues to add to this combustible mix including US transport contracts and personal animosity between the countries’ leaders. All this make the railway wagons on the Uzbek-Tajik border an issue to watch.

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(News report from Issue No. 72, published on Jan. 13 2012)

Turkmen gas chief fired

JAN. 7 2012 (The Conway Bulletin) – Turkmen president Kurbanguly Berdymukhamedov fired Aman Khanaliyev, the head of the state energy company Turkmengaz. Mr Khanaliyev had been in the post for a year. This is the third time Mr Berdymukhamedov has sacked the head of Turkmengaz since he became president in 2007.

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(News report from Issue No. 72, published on Jan. 13 2012)

Kazakhstan’s BTA Bank CEO resigns

JAN. 10 2012 (The Conway Bulletin) – Marat Zairov, CEO of BTA Bank since August last year, resigned several days after the bank said it would have to restructure its debt repayments. Officially, at least, Mr Zairov resigned for health reasons. The Kazakh government bought an 87.5% stake in BTA in 2009 during the global economic crisis.

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(News report from Issue No. 72, published on Jan. 13 2012)

Tajikistan rows with Uzbekistan over gas

JAN. 4 2012 (The Conway Bulletin) – Local media quoted the head of the Tajik foreign ministry’s information department, Daviat Nazri, saying Uzbekistan had cut off gas to Tajikistan. The Uzbek authorities have not commented. Tajikistan and Uzbekistan have been locked in a protracted row about energy and food supplies.

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(News report from Issue No. 71, published on Jan. 5 2012)

Kazakhstan extends state-of-emergency

JAN. 4 2012 (The Conway Bulletin) – Nursultan Nazarbayev, Kazakhstan’s president, extended a state-of-emergency by 26 days in Zhanaozen, the town near the Caspian Sea at the centre of rioting last month that killed 16 people. The state-of-emergency had been set to end on Jan. 5. It now ends on Jan. 31 and falls over a parliamentary election planned for Jan. 15.

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(News report from Issue No. 71, published on Jan. 5 2012)

Passenger plane crashes in Kyrgyzstan

DEC. 28 2011 (The Conway Bulletin) – A Kyrgyzstan Airlines plane carrying 86 people crashed on landing at Osh airport. The Soviet-era Tupolev Tu-134 flipped over, injuring 31 people. Nobody was killed. Kyrgyzstan has a poor air safety record. In Aug. 2008, 65 people died when a plane bound for Iran crashed after taking off from Bishkek.

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(News report from Issue No. 71, published on Jan. 5 2012)