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)
JAN. 10 2014 (The Conway Bulletin) — The Uzbek government increased the price of petrol by 20% because of continued shortages. Uzbeks are already labouring under a series of price rises, from food to general utilities. The jump in petrol prices could cause resentment to grow.
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(News report from Issue No. 167, published on Jan. 15 2014)
JAN. 13 2014 (The Conway Bulletin) — Kazakhstan will increase the amount of oil it sends to refineries in western China for processing into oil-based products, media reported quoting the Kazakh energy ministry. Kazakhstan has three refineries, not enough to meet the growing demand for oil-based products. Sending oil to Chinese refineries increases Kazakhstan’s reliance on China.
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(News report from Issue No. 167, published on Jan. 15 2014)