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

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... Read More

New offshore platform in Azerbaijani sector of Caspian Sea?

New offshore platform in Azerbaijani sector of Caspian Sea? The U.S. Emerson Process Management signed a contract with the Azerbaijan International Operating Company (AIOC) to automate a new offshore platform in the Azerbaijani sector of the Caspian Sea, within the Chirag Oil Project, the U.S. company reported. The Chirag Oil Project, to be completed in 2013 and operated by BP Azerbaijan, will enable additional oil to be recovered from the Azeri-Chirag-Guneshli... 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

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

BP to complete drilling Shahdaniz appraisal well by mid-2012

BP to complete drilling Shahdaniz appraisal well by mid-2012 BP, the technical operator of Azerbaijan’s giant Shahdaniz gas field in the Caspian Sea, will complete the drilling of SDX-07a appraisal well by mid-2012, an energy market source told Trend news agency. The drilling of this well is carried out in the frame of the second stage of Shahdaniz development. The source said a new borehole is being drilled in “a normal mode”, and the current... Read More

US is confidence in Nabucco feasibility faltering

US is confidence in Nabucco feasibility faltering Full implementation of the Nabucco gas pipeline project becomes less likely every year, a US State Department official was quoted by Russian RIA Novosti news agency as saying. ” It has become clear that it is more difficult to implement the project from the financial and temporal points of view,” Richard Morningstar, US Special Envoy for Eurasian Energy, told a conference, “Natural... Read More

BTC pumped 32m tons of Azeri oil in 2011

BTC pumped 32m tons of Azeri oil in 2011 The Baku-Tbilisi-Ceyhan (BTC) oil pipeline transported more than 32.22 million tons of Azerbaijani oil in 2011, down from 37 million tons reported in 2010, the state oil company Socar said Monday. In December alone, over 2.16 million tons of crude were pumped via the pipeline, which pumps oil produced from Azerbaijan’s Azeri-Chirag-Gunashli (ACG) block of fields in the Caspian Sea and condensate from the... Read More

Turkey’s Botas withdraws lawsuit against BTC project

Turkey’s Botas withdraws lawsuit against BTC project Botas, the operator of the Baku-Tbilisi-Ceyhan pipeline in Turkey, has withdrawn a lawsuit against the pipeline project, Haberturk newspaper said Friday. Earlier, Botas International Limited (BIL) filed a lawsuit against the project claiming that if the company continues to operate the BTC under the existing terms, it will incur losses to the tune of $2 billion by 2045. Turkey and Azerbaijan made... 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

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