Is South Stream Aganist Nabucco?

Is South Stream Aganist Nabucco? ‘Nabucco is a unique European-Turkish project and not affected by other project proposals’, said the spokesperson for Nabucco Christian Dolezal. He says that, South Stream was a rout substitute while Nabucco opened a new corridor with diversified gas supply for Turkey and Europe: “Nabucco has a very strong legal framework with all transit countries and Turkey in form of the Intergovernmental Agreement as a treaty and the bilateral... Read More

Azerbaijani gas reserves top 2.5 trillion tonnes

Azerbaijani gas reserves top 2.5 trillion tonnes Azerbaijan’s industrial production has tripled over the past years. According to Gun.Az, the statement came from Deputy Minister of Industry and Energy Gulmammad Javadov, speaking at the sitting of the working group on energy in the Ministry of Industry and Energy. ‘Discovery of new gas fields has turned Azerbaijan into the gas exporter and ensured the complete energy security of the country.  Currently, the country’s... Read More

New gas pipeline deal

New gas pipeline deal Turkey and Azerbaijan signed on Monday an agreement to build a pipeline to carry 10 billion cubic metres of Azeri gas to European markets starting in 2017, the Anatolia news agency reported. The deal comes as the EU’s plans to build the so-called Nabucco pipeline across Turkey to bring in Caspian Sea gas and reduce Europe’s dependence on Russia has struggled to sign up suppliers. The accord on building the $5-billion (3.8-billion-euro) Trans-Anatolia... Read More

Iraq joins the “Nabucco” gas pipeline project

Iraq is very interested in participating in the “Nabucco” gas pipeline project Iraqi Foreign Minister Hoshyar Zebari said that “Iraq is able to propose its resources for this strategic project, which is of great importance for the country”. He said that Iraq holds several meetings to participate in this project. Thus, the country has a Memorandum of Understanding on energy cooperation with the EU. Minister also stressed that the differences between the... Read More

Oil could climb to record in 2012

Oil could climb to record in 2012 Demand in emerging markets increases Crude oil may rise for a fourth year to a record average price in 2012 as demand in emerging markets increases and the United States avoids a recession. West Texas Intermediate oil on the New York Mercantile Exchange will reach an average of $100 a barrel in 2012, based on the median of 27 analyst estimates compiled by Bloomberg, topping the all-time high of $99.75 set in 2008. The US benchmark is on course... Read More

CESD Presentation on Insurance System in Azerbaijan

The Insurance System in Azerbaijan: As a multiplier effect of economic and social processes Center for Economic and Social Development (CESD) has recently presented its policy paper titled “The Insurance System in Azerbaijan: As a multiplier effect of economic and social processes”.   English version of the presentation is available at following link; Download CESD Presentation Here  Read More

Is there optimism for Nabucco?

Is there optimism for Nabucco? The Nabucco project is optimistic about a decision by the consortium developing Azerbaijan’s Shahdaniz gas field to select a pipeline for Azerbaijani gas exports to Europe, Nabucco Gas Pipeline International GmbH Managing Director Reinhard Mitschek said in an interview with the Baku-based Trend news agency. “We are optimistic that the partners in the Shahdaniz consortium will make a decision as soon as possible,” Mitschek said. He noted that... Read More

Opportunities to supply gas to Europe

Opportunities to supply gas to Europe Azerbaijan has all opportunities for supplying gas to Europe, the Foreign Affairs Minister of Azerbaijan Elmar Mammadyarov said in an interview to the Wall Street Journal. He explained that one idea to bring his country’s gas to Europe is to build a dedicated pipeline across Turkey to the border with the EU. It would then split up in two branches, one toward Greece and one to Bulgaria, where it would split even further, “like a... Read More

Azerbaijan’s oil exports down 18 pct in November

Azerbaijan’s oil exports down 18 pct in November Azerbaijan’s oil exports decreased 18.2 percent in November in comparison with the previous month, according to the state oil company SOCAR. Nearly 2.15 million tons of Azerbaijani crude were pumped to the Turkish Mediterranean port of Ceyhan through the Baku-Tbilisi-Ceyhan (BTC) main export pipeline last month. Vugar Bayramov, who heads the Center for Economic and Social Development (CESD), says that under the production... Read More

Azerbaijan Economy in the first eleven months of 2011

Azerbaijan Economy in the first eleven months of 2011 The State Statistic Committee reported that Gross Domestic Product  (GDP) increased 0,2 % in last eleven months of 2011 and reached to 45.5 billion manat ($ 58,3 billion). 54.9 % of value added produced in industry, 7.8 % – construction complex, 5.6% – agriculture, hunting and forestry, 5.2 % – transport, 7.9 % – trade and paid services, 1.7 % – communication, 11.0% – other fields.  GDP... Read More