Major events in Caspian countries' oil and gas industry for last week (Nov. 17-21)

Another two contracts for Shah Deniz Stage 2 signed

The Shah Deniz consortium announced the award of a further two contracts key to the progress of the Shah Deniz Stage 2 development project.

The two contracts have a combined value of $226 million and have been awarded to ShawCor Nederland B.V. (Bredero), part of the Bredero Shaw pipe coating division. The contracts cover application of anti-corrosion and concrete weight coatings to the Shah Deniz 2 subsea export pipelines, and upgrades to the Caspian Pipe Coatings (CPC) plant in Baku to enable the facility to meet the project's requirements for anti-corrosion and concrete weight coating.

Italian Eni extends its activity term in Turkmenistan

Eni Italian oil and gas company extended the term of the agreement on production sharing (PSA) within the framework of its activities in Turkmenistan for additional 10 years, a source close to the negotiations said.

The source said that the ceremony of signing the document on the extension of the company's activity in Turkmenistan was held in Ashgabat within the framework of the working visit of the Prime Minister of Italy Matteo Renzi to the country.

Ashgabat opens international oil and gas exhibition and conference

Ashgabat opened a three-day "Oil and Gas of Turkmenistan" (OGT-2014) international exhibition and conference, organized by the Ministry of Oil and Gas and Mineral Resources, Chamber of Commerce with the participation of British Summit Trade Events Ltd.

The leitmotif of the conference is "International cooperation in the oil and gas industry of Turkmenistan: potential, achievement, priorities".

TAPI consortium to choose project development leader

The 19th meeting of the TAPI steering committee took place in Ashgabat. It consisted of the ministers of the countries participating in the project, representatives of the Asian Development Bank (ADB), which is a TAPI transactional advisor, the Turkmen government says.

"A decision was made to hold additional consultations on assessing and choosing the potential partners and a leader of the consortium before February 2015 given the completion of the preparatory work for the implementation of the TAPI project and all recommendations and statements," a statement says. "After these procedures, the steering committee will announce an international tender to choose a leader of the "TAPI Ltd" consortium."

The sides also held a meeting of the "TAPI Ltd" Board of Directors and a technical working group in Ashgabat.

They coordinated the issues related to the update of the project feasibility study and "TAPI Ltd" registration.

Kazakhstan’s KazMunayGas pays out coupon on its international bonds
Kazakhstan’s KazMunayGas pays out coupon on its international bonds
Azerbaijan sees increase in prices for silver, platinum, palladium
Azerbaijan sees increase in prices for silver, platinum, palladium
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Turkmenistan should closely monitor bank balance sheets for asset quality risks - IMF
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