New Area for Nabucco Project?

New Area for Nabucco Project? The Nabucco Political Committee-Meeting of the Nabucco Ministers of the Transit Countries convening in Vienna, Austria confirmed the full political support for the Nabucco Gas Pipeline Project and for the existing Intergovernmental Agreement giving comfort to investors and producers. Hosted by the Austrian Energy Ministry and attended by the Energy Commissioner Gunther Oettinger, the Bulgarian Prime Minister Boyko Borisov... Read More

Does Turkey’s energy deal with Russia affect Nabucco?

Does Turkey’s energy deal with Russia affect Nabucco? The latest energy agreement signed between Russia and Turkey will not affect the implementation of the Nabucco gas pipeline project, and on the contrary, will facilitate it, Turkish Energy Minister Taner Yildiz was quoted by Hurriyet newspaper as saying on Monday. “All the statements that implementation of the Nabucco project will slow down after the signing of the agreement on [Russian-backed]... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’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... Read More