MAY 29 2015 (The Conway Bulletin) – Serbia has withdrawn from Russia’s Turkish Stream project, Serbian PM Alexander Vucic said, handing an important boost to Azerbaijan’s aspirations of becoming a major gas supplier to Europe. Russia plans to build a gas pipeline across the Caspian Sea to Turkey and then into Europe via the Balkans.
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(News report from Issue No. 234, published on June 4 2015)
JUNE 1 2015 (The Conway Bulletin) – Oil output at Tengizchevroil, Kazakhstan’s biggest oil producer, rose by 4.4% in Q1 compared to the same period in 2014, Reuters reported quoting its director-general Tim Miller. Chevron owns 50% of Tengizchevroil, ExxonMobil owns 25%, Kazmunaigas owns 20% and Lukoil owns 5%.
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(News report from Issue No. 234, published on June 4 2015)
JUNE 2 2015 (The Conway Bulletin) – At a meeting in Baku, Azerbaijan’s energy ministry pledged to help Iraq explore for more oil.
The joint agreement was important because it underlined Azerbaijan’s determination to play a greater role in regional affairs. Iraq has been looking for partners to explore for more oil deposits and, although this agreement doesn’t actually put an exploration phase in motion, it does lay important groundwork for one.
Natig Aliyev, Azerbaijan’s energy minister, said: “We’re talking about investing in Iraq. We plan to choose there one of the projects, that is, an oilfield, and will work on it. In turn, Iraqi companies have been invited to participate in projects in Azerbaijan. I’m sure this collaboration will be productive.”
Azerbaijan has assumed an increasingly important role in the region.
Azerbaijan has hosted Afghan government delegations and promised to play a role in developing government institutions there, Israel considers Azerbaijan to be a regional ally and Baku has also rebuilt relations with Tehran over the last couple of years.
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(News report from Issue No. 234, published on June 4 2015)
MAY 26 2015 (The Conway Bulletin) – In a boost for EU aspirations to pump gas from Turkmenistan, Azerbaijan said that although the countries which ring the Caspian Sea still argue over ownership, it didn’t see any problems building a pipeline across it, media reported. The EU is keen to diversify its gas supplies away from Russia.
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(News report from Issue No. 233, published on May 28 2015)
MAY 22 2015 (The Conway Bulletin) – With European gas supplies in mind, Turkmenistan intends to increase gas output, media quoted the petroleum minister, Muhammetnur Halyov, as saying. Turkmenistan is positioning itself to become a major supplier of gas to the EU in the next few years.
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(News report from Issue No. 233, published on May 28 2015)
MAY 21 2015 (The Conway Bulletin) – BP suspended operations for 22 days at its West Azeri platform in the Caspian Sea for planned maintenance work. The Azerbaijani government has put BP under pressure to maintain oil output at its fields.
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(News report from Issue No. 233, published on May 28 2015)
MAY 20 2015 (The Conway Bulletin) – Pakistani prime minister Nawaz Sharif flew to Ashgabat to meet with Turkmen president Kurbanguly Berdymukhamedov and discuss prospective energy projects.
After their meeting, Mr Sharif said Pakistan wanted to speed up regional energy projects, including the Turkmenistan-Afghanistan-Pakistan- India (TAPI) pipeline — a much-discussed project that could deliver Turkmen gas to South Asia.
Mr Sharif’s visit to Ashgabat highlights just how important the TAPI project is to South Asia and also reflects Turkmenistan’s burgeoning status in the region.
Turkmenistan is trying to push the TAPI project forward in order to diversify its export routes. Its main client is China although it is also in talks with the EU to supply gas.
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(News report from Issue No. 232, published on May 20 2015)
MAY 14 2015 (The Conway Bulletin) – Outside the financial sector, SOCAR, Azerbaijan’s state energy company, is the largest company in Georgia, media reported quoting research from Ilia University in Tbilisi. SOCAR Petroleum Georgia is a SOCAR subsidiary. Its main business in Georgia is a network of petrol stations.
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(News report from Issue No. 232, published on May 20 2015)
SUMQAYIT/Azerbaijan, MAY 20 2015 (The Conway Bulletin) — Absheron, the narrow peninsula surrounding Azerbaijan’s capital Baku, gives a remarkable insight into the country’s patchy oil-funded growth.
Dystopian industrial decay, dirty villages of crumbling homes and bleak oil fields of rusty drills share the same few dusty square miles with newly built sumptuous seaside resorts, whitewashed villas and long stretches of crowded beaches dotted with flashy restaurants and garish wedding palaces.
The coexistence of opposites is arguably not a harmonic one. Embarrassed by the deteriorating state of Absheron’s infrastructure and the dire living conditions of much of its population Azerbaijan’s political elite seems to have opted for the creation of a Potemkin-façade of disproportionate lavishness.
Along the modern highway connecting Heydar Aliyev International Airport to the resort town of Buzovna high marble walls veil the view of surrounding shantytowns and oil spills.
Azerbaijan’s government indulges in creating unrepresentative showcases of the country, while the huge revenues of the oil and gas industry centred in and around Absheron, fail to filter down to the local inhabitants.
The uneven distribution of both profits and investments is epitomised by the fate of Sumqayit, Absheron’s biggest town. A thriving industrial centre during Soviet times, this northern shore town of concrete blocks and wide alleys now feels abandoned.
Resentment towards the government is high in Sumqayit and the town has become a breeding ground for religious extremism. Last year there were reports that Sumqayit had become a hotbed for Syria-bound would-be jihadists and a string of arrests and search operations were carried around town.
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(News report from Issue No. 232, published on May 20 2015)
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.
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(News report from Issue No. 232, published on May 20 2015)