Major events in Caspian countries' oil and gas industry for week (May 27-June 1)

Major events in Caspian countries' oil and gas industry for week (May 27-June 1)

Azerbaijan may redirect oil from Baku-Novorossiysk pipeline to BTC

In case of a refusal to transport Azerbaijani oil via the Baku-Novorossiysk pipeline, it may be transferred through the Baku-Tbilisi-Ceyhan oil pipeline, SOCAR senior official said.

"In case of refusal to transport oil through the Baku-Novorossiysk pipeline, it might be transported via BTC, which will be beneficial to the Baku-Tbilisi-Ceyhan consortia and development the Azeri-Chirag-Guneshli block of oil and gas fields. Increased transportation via BTC will contribute to the reduction of the tariff for pumping oil from ACG, which is also beneficial to the state."

In this case, the BTC consortium must provide the rates that would be commercially more than transporting oil by rail.

SOCAR: Azerbaijan to offer reasonable gas price within Shah Deniz 2

The Shah Deniz Consortium will offer reasonable prices for gas from the second stage of development of the condensate field's development in the Azerbaijani sector of the Caspian Sea, Vice-President of SOCAR (State Oil Company of Azerbaijan) for Marketing and Investment Elshad Nasirov said during a speech at the session entitled 'Energy Security from the Caspian Sea to Europe: the Changing World Energy Security Dynamics: New prospects for the Southern Energy Corridor' within the forum of the 'Azerbaijan-USA: Vision for the Future' event in Baku.

"Alternative gas is never cheaper than the primary source. For example, when in 2009, Russia halted gas supplies to the Ukraine and Bulgaria, they were saved by liquefied gas from Greece which incidentally was worth twice the price. However, this does not mean that the consortium for the development of the second phase of the Shah Deniz gas field will also set high prices. We do not aim at stifling the Europeans with high prices," Nasirov said.

Iran, India to begin new round of gas talks

Iran will be ready to change the path of Iran-India gas pipeline in case New Delhi increases its gas imports volume to the figures before the implementation of sanctions against Tehran.

Iran is also ready to lower the price of gas exports, as well as granting a production sharing contract to India for developing Farzad B gas field, the ISNA News Agency reported.

The issues will be discussed during the upcoming visit of Iranian Oil Minister Rostam Qasemi to New Delhi.

Kazakhstan-China gas pipeline capacity to be increased

The Minister of Oil and Gas of Kazakhstan has submitted the draft law "On the ratification of the Protocol on Amendments to the Agreement between the Government of Kazakhstan and the Government of China on cooperation in the construction and operation of the Kazakhstan-China gas pipeline from August 18, 2007" to the Majilis (lower chamber of parliament).

"The bill would increase the power of the first section of the Kazakhstan-China main gas pipeline (threads A and B ) by building a thread C and will transport additional 25 billion cubic meters of gas a year," Mynbaev said.

The cost of the project, according to him, amounts to $5.45 billion. A loan in the amount of $ 4.7 billion is provided by the China Development Bank for the construction. The missing part of the funding will be covered at the own expense of the Asian Gas Pipeline LLP.

Turkey to begin negotiations on gas supplies from Turkmenistan

A framework agreement on cooperation for the supply of natural gas from Turkmenistan to Turkey can be called an illustrative result of the talks between the presidents of Turkmenistan and Turkey, Gurbanguly Berdimuhamedov and Abdullah Gul, who is on a state visit to Ashgabat.

Kazakhstan, Tajikistan resuming mutual air traffic
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Turkey's exports to OIC countries on the rise
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Uzbekistan, Tajikistan talk opening ground checkpoints
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