Does Azerbaijan announce price of gas sold to Turkey?

Does Azerbaijan announce price of gas sold to Turkey? SOCAR has not announced any price, yet The price of Azerbaijan’s gas exported to neighboring Turkey is currently $330 per 1,000 cubic meters, a senior Azerbaijani official was quoted by the Sabah newspaper as saying on Monday. “Turkey imports gas from Russia for $450 and from Iran for $420 per 1,000 cubic meters. Azerbaijani gas is supplied to Turkey at the lowest price,” said Novruz Mammadov, the Presidential... Read More

Will Nabucco gas pipeline be downsized?

Will Nabucco gas pipeline be downsized? The Nabucco consortium is considering a much smaller project than the originally planned pipeline to carry Caspian natural gas to Europe, bowing to the reality of low gas amounts available at the moment in the region, according to people familiar with the situation, The Wall Street Journal reported. Nabucco’s original project was a 3,900 kilometer-long natural-gas pipeline running from the eastern Turkish border with Georgia all the... Read More

Nabucco consortium continues supporting project’s original conception

Nabucco consortium continues supporting project’s original conception Nabucco consortium continues supporting the project’s original conception, which envisages the construction of the pipeline from Turkey’s eastern borders to Austrian Baumgarten, Reinhard Mitschek, Managing Director, Nabucco Gas Pipeline International told Trend. “The Nabucco concept, whereby the pipeline travels from the Eastern borders of Turkey to Baumgarten in Austria continues to be our... Read More

Romanian Transgaz to contribute to Nabucco’s budget

Romanian Transgaz to contribute to Nabucco’s budget The shareholders of Romanian National Gas Transmission Company Transgaz S.A. sanctioned a decision to contribute to the consolidated budget of Nabucco Gas Pipeline International GmbH (NIC), Romanian ACTMedia news agency reported with the reference to a statement sent to the Bucharest Stock Exchange on Friday. According to a decision, sanctioned by Ordinary General Shareholders Meeting of Transgaz on February, 10, the Romanian... Read More

Shah Deniz-2 drilling plans announced

Shah Deniz-2 drilling plans announced Drillings of new test wells and boreholes as part of the second stage of the Azerbaijani Shah Deniz offshore gas condensate field development is not allowed until authorisation of the second phase, a source in the oil and gas market told Trend news agency on Monday. Currently work on the SDX-07а test well drilling is being carried out, the source said. “The second phase involves a multi-billion dollar investment. It also requires costly... Read More

New offshore platform in Azerbaijani sector of Caspian Sea?

New offshore platform in Azerbaijani sector of Caspian Sea? The U.S. Emerson Process Management signed a contract with the Azerbaijan International Operating Company (AIOC) to automate a new offshore platform in the Azerbaijani sector of the Caspian Sea, within the Chirag Oil Project, the U.S. company reported. The Chirag Oil Project, to be completed in 2013 and operated by BP Azerbaijan, will enable additional oil to be recovered from the Azeri-Chirag-Guneshli field. The Project... Read More

Azeri oil fund restricts foreign managers’ access to assets

Azeri oil fund restricts foreign managers’ access to assets Azerbaijan’s state oil fund Sofaz has revised its policy of placing assets through foreign managers in 2012. According to the changes, Sofaz may transfer no more than 5 percent of the total cost of its investment portfolio to foreign management whereas in 2011 the maximum amount was 15 percent. The measure is envisaged in the 2012 investment policy approved by President Ilham Aliyev. The fund’s managers are... Read More

Will TANAP replace Nabucco project?

Will TANAP replace Nabucco project? Azerbaijan-Turkish Trans Anatolian Pipeline (TANAP) with initial capacity of 16 billion cubic meters, can be expanded and replace the Nabucco project to transport natural gas only to the EU, Anadolu agency quotes the European Commission’s report sent to member countries’ partners on the energy sector. The European Commission said the EU needs a pipeline to transport Azerbaijani gas to Europe through the Turkish territory, and it... Read More

Azerbaijan undergoes economic losses due to the snowfall

Azerbaijan undergoes economic losses due to the snowfall For the last ten days the economy faced potential 240 million AZN lost Losses on trade turnover reverberated more through Tourism and Services sectors. CESD experts hold that, severe winter of 2012 has not solely affected public utilities and other services but also seriously deteriorated the country’s economy.  According to experts, the real sector production capacity has fallen by 20 percent and thus the economy of... Read More

CESD Recommendation on E-privatization Approved

CESD Recommendation on E-privatization Approved The State Property Committee of Azerbaijan approved CESD recommendation on e-privatization system. CESD recommendation on improving of privatization process submitted at CESD National Anti-Corruption Conference in Baku, Azerbaijan, on February, 23, 2011 (More information is available at; http://www.cesd.az/anti-corruption.htm). CESD Anti-Corruption Recommendations Package was included to Parliamentary Agenda and distributed by different... Read More