SOFAZ’s “Gold Policy”?

SOFAZ’s “Gold Policy”? CESD; “SOFAZ too late with investing in gold” The State Oil Fund of the Azerbaijan Republic (SOFAZ) reported that the fund has started to invest in gold in order to diversify its portfolio and increase revenue. According to the Oil Fund’s Investment Policy, 5% of the investment portfolio’s total value in 2012 can be invested in gold.  To this end, from 1 February 2012, the fund began to purchase gold bullion from market-maker banks... Read More

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