Nabucco shareholders to discuss project implementation in Vienna

Nabucco shareholders to discuss project implementation in Vienna Shareholders of Nabucco gas pipeline project will discuss project implementation issues at a meeting in Vienna on Tuesday. “We confirm that there is a regular shareholders meeting of the Nabucco shareholders in Vienna today. Shareholders meetings take place on a monthly basis and we discuss the project related topics,” Reinhard Mitschek, Managing Director, Nabucco Gas Pipeline... Read More

Field glitch halts Shahdaniz gas exports

Field glitch halts Shahdaniz gas exports Azerbaijan stopped shipping gas to Turkey from its giant Shahdaniz gas field in the Caspian Sea, where production was halted on Monday because of a glitch during maintenance works, a spokeswoman for the field operator said on February, 09, 2012. “Shahdaniz gas field was completely shut last night during planned repair works on the platform’s electricity supply system,” BP Azerbaijan spokeswoman... 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