Why TAP?

Why TAP? CESD: TAP will contribute to EU Energy Security but Russian monopoly in Central and Eastern Europe will remain BP and the State Oil Company of Azerbaijan signed an agreement to deliver Azerbaijan’s gas to Europe via the Trans-Adriatic Pipeline (TAP) rather than the competing Nabucco West project at the Four Seasons Hotel in Baku on June 28th, 2013 TAP is a consortium established by Norway’s Statoil (42.5%), Swiss’s Axpo (42.5%),... 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

1 trillion cm of gas extracted in Shah Deniz

1 trillion cm of gas extracted in Shah Deniz In 1997-2011, 1.9 bn barrels of oil were extracted from Azeri-Chirag-Guneshli fields, said the BP-Azerbaijan’s report on Sustainable Development. Along with summary of business activity of BP in Azerbaijan during 2011, performances in economic and social spheres were reflected in the report, APA reports. Report says that, 1 trillion cm of gas has been extracted from Shah Deniz so far.  Read More

Nabucco Consortium submits new proposal to Shah Deniz II Consortium

Nabucco Consortium submits new proposal to Shah Deniz II Consortium The Nabucco Consortium on May 16, 2012 submitted a proposal to the Shah Deniz II Consortium for the construction of a “Nabucco West” pipeline, which would bring Caspian gas from the Bulgarian-Turkish border to Baumgarten and beyond. “We are convinced that we have submitted a competitive and comprehensive proposal to the Shah Deniz II Consortium, and that this proposal represents... Read More

Does Nabucco have many uncertainties?

Does Nabucco have many uncertainties? Nabucco gas pipeline project, which is designed to transport gas from the Caspian region and Middle East to the European countries, has many uncertanties, Bloomberg reported with the reference to Hungarian company Mol. “There are “many uncertainties around the Nabucco project that would be hard to ignore,” Mol said. Earlier Hungarian Prime Minister Viktor Orban said that Mol is leaving Nabucco... Read More

Trans Adriatic Pipeline Manager; Good chances to win Shah Deniz bid

Trans Adriatic Pipeline Manager; Good chances to win Shah Deniz bid Trans Adriatic Pipeline (TAP) has very good chances to be the winner in Shah Deniz consortium`s route selection process, TAP Managing Director Kjetil Tungland said in an interview with Trend news agency in Baku. “I am confident that TAP will be selected as the final route to transport Azerbaijani gas to Europe,“ Tungland said. According to him, TAP has several advantages... 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... 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

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

EU to welcome any decision by Shah Deniz consortium

EU to welcome any decision by Shah Deniz consortium The European Commission will welcome any decision by the consortium of Azerbaijani Shah Deniz gas condensate field development for the selection of the pipeline route, EU Commissioner for Energy Günther Oettinger said at the Edison event in Brussels. Oettinger said the first success of Southern gas Corridor policy will come when Shah Deniz consortium names its preferred pipeline option for their... Read More

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