Tag Archives: government

Kazakhstan could buy Karachaganak stake

MAY 18 2015 (The Conway Bulletin) – Kazakhstan could buy a 29.25% stake in the Karachaganak oil and gas project in the north of the country when Shell completes its buyout of BG Group next year, BG Group said in its annual report.

Kazakhstan has been looking to increase its stake in various projects. Karachaganak was one of the last major operations that the Kazakh government took a stake in. It bought a 10% stake in Karachaganak for $3b in 2012.

Now, with Shell buying BG Group, Kazakhstan has the opportunity to buy a far larger chunk of Karachaganak.

“It is possible that the Republic of Kazakhstan may claim to have a right to acquire the Group’s interest in the Final Petroleum Sharing Agree- ment governing the operation of the Karachaganak gas and con- densate field in the event of a change of control of BG Group following a takeover bid,” BG Group said.

The Kazakh government hasn’t commented.

Karachaganak is one of BG Group’s most prized posses- sions, accounting for 9% of its revenues in 2014. Analysts have said that BG Group’s stake maybe worth around $4.4b.

ENDS

(News report from Issue No. 232, published on May 20 2015)

EBRD downgrades Georgian economic growth rate

MAY 14 2015 (The Conway Bulletin) – At its two-day annual general meeting in Tbilisi this year, the European Bank for Reconstruction and Development downgraded the host nation’s economic growth rate from 4.2% to 2.3% in 2015.

The EBRD’s latest report predicted overall stagnation in 2015 across all its 35 countries in the former Soviet Union and the Middle East. This is mainly due to a drop in oil prices and pressure on currencies generated by a strong US dollar.

Specifically, the EBRD said it had downgraded Georgia’s economic growth prospects because of the stronger than expected impact of the regional financial crisis centred on Russia. This expressed itself in lower remittances from abroad and a heavy drop in the value of national currencies.

Money transfers from abroad in April were down 25% on 2014 and the Georgian lari has also lost 34% of its value against the US dollar since November 2014.

These dreary economy forecasts pile extra pressure on the Georgian Dream coalition government although EBRD president Suma Chakrabarti did have some more comforting words for his hosts.

He said that Georgia was still performing better than average and has the strong potential for economic growth in the future.

“I don’t think it will be too long before Georgia will be able to take advantage of its productive potential going forward and the economic fundamentals here are sound,” he said.

ENDS

(News report from Issue No. 232, published on May 20 2015)

Turkmenistan cracking down on media

MAY 19 2015 (The Conway Bulletin) – The New York-based Human Rights Watch accused the Turkmen government of using new rules which ban satellite dishes from apartment blocks because they are an eyesore as a pretext for cracking down on independent information sources.

ENDS

(News report from Issue No. 232, published on May 20 2015)

EU criticises Kyrgyzstan on gay rights

MAY 18 2015 (The Conway Bulletin) – At a meeting in Brussels focused on human rights, the EU criticised new legislation passing through Kyrgyzstan’s parliament that outlaws promoting gay relationships.

The legislation is similar to laws brought in by Russia two years ago. Analysts have said Bishkek may have been motivated to introduce the rules by a desire to cosy up to the Kremlin.

The criticism of gay rights in Kyrgyzstan came the day after anti-gay rights protesters in Bishkek attacked a pro-gay rights meeting being held in the garden of an upmarket Bishkek hotel.

Over the past few years, the West has watched as Kyrgyzstan, once its poster-boy in Central Asia, has moved increasingly towards Russia. This month it also joined the Kremlin-led Eurasian Economic Union.

As well as criticising Kyrgyzstan over its gay rights record, EU officials also praised the country for trying to clamp down on torture in prison and improving women’s rights.

ENDS

(News report from Issue No. 232, published on May 20 2015)

Police in Azerbaijan arrest Aliyev associate

MAY 13 2015 (The Conway Bulletin) – Police in Baku arrested Nizami Piriyev, a high-profile Azerbaijani businessman closely associated with President Ilham Aliyev.

Mr Piriyev, media reported, was charged with various financial crimes. He is in prison ahead of a trial in what appears to be a spectacular public fall.

One of Azerbaijan’s richest men, Mr Piriyev was the official owner of the Azerbaijan Methanol Company, a large and high-profile operation on the outskirts of Baku.

He paid for former British PM Tony Blair to fly to Baku in 2009 to open the plant. Mr Blair, criticised for taking cash from dubious governments since he left office in 2007, was photographed at a press conference in Baku sitting between Mr Piriyev and his son, Nasib.

Mr Piriyev’s holding company PNN Group also owned franchise rights to a number of Western brands in Azerbaijan and across the former Soviet Union. This included the British high street news agent WHSmith and US fast food chain KFC.

Mr Piriyev used to work in Russia for Gazprom and had businesses stretching across Central Asia.

It’s unclear what triggered his arrest and whether he has been associated with Azerbaijan’s increasingly marginalised opposition or if he had fallen out with Azerbaijani President Ilham Aliyev. The United States and Europe have been increasingly critical of Mr Aliyev for cracking down on opposition.

ENDS

(News report from Issue No. 231, published on May 13 2015)

Georgian government survives vote

MAY 13 2015 (The Conway Bulletin) – Georgia’s government easily survived a no-confidence vote in parliament triggered by the resignation of a minister earlier this month, meaning that PM Irakli Garbashvili remains in power.

Mr Garbashvili, part of the Georgian Dream coalition that turfed out former president Mikheil Saakashvili’s party from power, appointed four new ministers, including Tina Khidasheli as the country’s first female defence minister.

Importantly, even though Mr Garbashvili’s government won the no-confidence vote 87-38, it would still have damaged the government’s credibility.

The Georgian Dream has been beset by bickering and in- fighting and its popularity has plummeted as a regional economic recession batters Georgia. Its currency has slid 32% against the dollar.

Alongside Ms Khidasheli, Mr Garbashvili appointed Gigla Agulashvili as environment minister, Nodar Javakhishvili as infrastructure minister and Tariel Khechikashvili as minister for sport.

ENDS

(News report from Issue No. 231, published on May 13 2015)

Georgia allows voting on a prosecutor

MAY 7 2015 (The Conway Bulletin) – Georgia will allow parliament to vote on the appointment of the prosecutor-general, media reported, a move designed to bolster democracy. Under the current system the PM appoints the country’s top prosecutor. New laws will introduce a special council to advise on an appointment which will then need to be approved by government and parliament.

ENDS

(News report from Issue No. 231, published on May 13 2015)

Support slips for Georgian Dream

MAY 13 2015 (The Conway Bulletin) – In an opinion poll for the National Democratic Institute in Georgia, only 24% of respondents said they would vote for the ruling Georgian Dream Coalition. The poll is another blow to the authority of the coalition.

ENDS

(News report from Issue No. 231, published on May 13 2015)

Kyrgyzstan appointed new PM

APRIL 30 2015 (The Conway Bulletin) – Kyrgyzstan’s parliament approved former economy minister Temir Sariyev to be prime minister, the fifth in five years.

Mr Sariyev succeeds Djoomart Otorbayev who quit after failing to secure a deal with Canada’s Centerra Gold over the Kumtor gold mine, Kyrgyzstan’s largest industrial asset.

Control of Kumtor, and Kyrgyzstan’s push to increase its ownership, has dominated Kyrgyz politics. Mr Sariyev referenced it.

“Nationalisation will only create certain risks and threats for us. We must seek other ways,” he said.

Mr Otorbayev, who served as PM for about a year, had pushed to trade Kyrgyzstan’s 32.7% stake in Centerra Gold in for a 50:50 stake in a new company that would own Kumtor. When this stalled he switched to calling for more directors on the Centerra Gold board. This also failed.

Some Kyrgyz MPs have called for the government to nationalise Kumtor.

Mr Sariyev takes over as head of a coalition of MPs from three parties — the Social Democrats, Ata-Meken (Father- land) and Ar-Namys (Dignity). Together they hold 69 seats out of the 120 seat-parliament. In November, Kyrgyzstan holds another parliamentary election, its second since a constitutional change in 2010 handed more power to parliament.

ENDS

(News report from Issue No. 230, published on May 6 2015)

Azerbaijan’s Oil Fund drops

MAY 1 2015 (The Conway Bulletin) – Azerbaijan’s State Oil Fund said its assets had dropped by 5% in the first three months of the year compared to the same period in 2014. Azerbaijan’s government is trying to push its way through a regional economic downturn and has said it will dip into its reserves to support various projects.

ENDS

(News report from Issue No. 230, published on May 6 2015)