25 Years of Transition: Post-Communist Europe and the IMF

25 Years of Transition: Post-Communist Europe and the IMF The past 25 years have seen a dramatic transformation in Europe’s former communist countries, resulting in their reintegration into the global economy, and, in most cases, major improvements in living standards. But the task of building full market economies has been difficult and protracted. Liberalization of trade and prices came quickly, but institutional reforms—in areas such as governance,... Read More

Economic realities of the Russian-Ukraine conflict

Economic realities of the Russian-Ukraine conflict Getting into the Crimea, Russia did settle not only “va-bank” in the geopolitical relations with The West but also tried to create new game rules on the economic plane in the region. Of course, Moscow was warned beforehand it would face economic and as well as political sanctions. Though the West repeatedly informed Russia about such issues before the conflict even started Moscow initiated such... Read More

Estimated price of Shah Deniz-2 ups

Estimated price of Shah Deniz-2 ups   The cost of the Shah Deniz Stage 2 project is now estimated slightly higher than previously at $28 billion, SOCAR President Rovnag Abdullayev said during the meeting with the graduates of the summer school of the company. “We plan to implement scaled projects, one of which is the implementation of the stage 2 project. Within the project, we will also start broadening of the South Caucasus pipeline... Read More

Is SOCAR investment effecient?

Is SOCAR investment effecient? Most of the funds received by Azerbaijan’s state energy firm Socar from the placement of Eurobonds in the amount of $500 million were spent to pay the assets in Switzerland, purchased from Exxon Mobil, a Socar official told the Baku-based Trend news agency. Socar signed an agreement with Exxon Mobil to acquire its Swiss branch, Esso Schweiz GmbH, in November 2011. The company will operate under the brand name Esso... Read More

EU schedules next meeting on Caspian gas supplies to Europe

EU schedules next meeting on Caspian gas supplies to Europe The next discussion on the Caspian gas supplies to Europe will be held in early March, the Energy Department of the European Commission said. “The next meeting on technical level will take place in early March,” Nicole Bockstaller, the press-officer of EU Energy Commissioner Guenther Oettinger, told Trend news agency via e-mail She added, that the negotiations with Azerbaijan... Read More

New Trans-Caspian Project?

New Trans-Caspian Project? Azerbaijan, Turkmenistan and the European Union are drafting two documents that will allow to deliver Caspian and in particular Turkmen gas to Europe, Azerbaijani Energy Minister Natig Aliyev said on Wednesday. According to him, the two resource-rich Caspian littoral states and the EU are expected to complete the preparation of a political document to support the Southern Gas Corridor of pipelines, as well as an inter-governmental... 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... Read More

EU: Azeri gas decision will be made by the second half of year

EU: Azeri gas decision will be made by the second half of year The European Union’s Energy Commissioner Guenther Oettinger expects an agreement on gas deliveries to Europe from Azerbaijan to be reached in the next two to three months, Reuters reported. “There will be gas deliveries from Azerbaijan,” he said on Monday on the sidelines of an industry event, adding it was open whether the RWE-backed Nabucco consortium would be chosen... Read More

SOCAR Incurs Huge Debt, Raises Questions

SOCAR Incurs Huge Debt, Raises Questions CESD experts question the decision of SOCAR to incur long-term debt by issuing Eurobonds The State Oil Company of Azerbaijan (SOCAR) has completed the placement of debut issue of Eurobonds in London. The overall volume of orders applied by 290 investors made $4.6 billion.  The profitability of the initial placement of Eurobonds makes annual 5.45%. The date of payment for the initial issue is 9 February 2017. Eurobonds... Read More

Natural Gas Europe referenced CESD reports

Natural Gas Europe referenced CESD reports Natural Gas Europe published new article titled as “Kremlin’s Offer to Turkmenistan: “More Political Than Economic”. The journal referenced CESD reports and states that “If anything, Baku has been saying lately that Nabucco is too ambitious and that it will develop its Shah-Deniz II fields for smaller pipelines, the Baku-based Center for Economic and Social Development said this week”. Natural... Read More

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