Major events in Caspian countries' oil and gas industry for last week (May 16-20)

Analysis Materials 24 May 2016 11:57

Greece hosting TAP groundbreaking ceremony

A groundbreaking ceremony for the Trans Adriatic Pipeline (TAP) has started in Thessaloniki, Greece. Azerbaijan's Minister of Energy Natig Aliyev, Greek Prime Minister Alexis Tsipras, Vice-President of the European Commission for Energy Union Maros Sefcovic, Georgian Prime Minister Giorgi Kvirikashvili, Greek Energy and Environment Minister Panos Skourletis, Bulgarian Energy Minister Temenuzhka Petkova, as well as the representatives of the project shareholder companies, including Rovnag Abdullayev, head of the State Oil Company of Azerbaijan (SOCAR), attended the ceremony.

TAP is the third part of the Southern Gas Corridor, envisaging Azerbaijani gas supplies to Europe, along with the South Caucasus Pipeline (SCP) and Trans-Anatolian Pipeline (TANAP).

Islamic Development Bank to take part in financing of TAPI

The Islamic Development Bank (IDB) will take part in financing of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project, Neutral Turkmenistan newspaper reported. Negotiations of representatives of the IDB and Saudi Fund for Development (SFD) with the governing committee on TAPI project were held in Ashgabat. The meeting was dedicated to the development and adoption of an investment agreement to finance the construction of the main gas pipeline in Turkmenistan's territory.

Participation of financial institutions in the project is expected in three main areas: to provide the project with pipe products, gas equipment and the provision of loans on investment lines with the prospect for Asian companies to be involved in the development of the largest Galkynysh gas field in Turkmenistan.

Newly-built Khankendi vessel re-floated at Baku Shipyard

The Shah Deniz consortium announced that the subsea construction vessel (SCV) "Khankendi" was recently re-floated into the Caspian Sea at the Baku Shipyard quay. The vessel has been specifically designed and built to install the subsea structures of the giant Shah Deniz Stage 2 gas development project.

"The launch of the vessel out of the dry dock at the Baku Shipyard is an important milestone achieved by Shah Deniz Stage 2 project," Gordon Birrell, BP's Regional President for Azerbaijan, Georgia and Turkey, said. "The Shah Deniz consortium is proud to be involved in the construction of the Khankendi, which, we believe, marks a new era in the shipbuilding history of not only Azerbaijan but also the entire Caspian region."

"This flagship of the Caspian oil and gas fleet is designed to construct world-class subsea structures for the first time in the Caspian at the water depth of up to 550 meters," he said. "We look forward to the full completion and commissioning of the vessel when it will be deployed to the Shah Deniz area to commence subsea installation works for the Stage 2 gas development project". The Khankendi vessel is planned to perform subsea construction activities on the Shah Deniz field between 2017 and 2027. The $378 million facility is a unique vessel built under DNV GL's (Norway and Germany) classification supervision.

Azerbaijan, Uzbekistan to co-op in exploration, development of oil fields

Azerbaijan's state oil company SOCAR and Uzbekistan's Uzbekneftegaz national holding company have signed a memorandum of understanding to develop the cooperation.

The document was signed during the visit of a SOCAR delegation led by the company's president Rovnag Abdullayev to Tashkent to take part in the 20th Uzbekistan International "Oil & Gas (OGU 2016) Exhibition".

The memorandum of understanding signed between SOCAR and Uzbekneftegaz following those meetings, covers the spheres of joint exploration and development of oil and gas fields and other areas of prospective cooperation, said the message from SOCAR.

US company to participate in CTL-project in Uzbekistan

The US Jackco Technology Group will participate in the preparation of the project for the production of synthetic liquid fuel from coal (CTL process - coal to liquid) in Uzbekistan, a representative of the Uzbekneftegaz National Holding Company said.

The source said that Jackco Technology Group and Uzbekneftegaz signed a road map for the implementation of CTL-project in Uzbekistan.

The document was signed as part of the Uzbekistan International Oil and Gas Conference-2016, which is being held in Tashkent.

As part of the signed agreement, the US company will present its proposals on the technology of production of synthetic liquid fuel from coal. The estimated production capacity is 200,000 tons of oil products a year.

Int'l gas congress opens in Turkmenistan

Opening of the 7th international Turkmenistan Gas Congress 2016 (TGC 2016) has been held at the congress center of Turkmenistan's Avaza.

The organizers of the event are Turkmengaz state concern and the British Summit Trade Events Ltd.

The forum has brought together about 400 delegates from more than 30 countries of the world. During the event, foreign companies will be able to submit their proposals on investment, introduction of new technologies, supply of modern machinery and equipment for Turkmenistan's fuel and energy complex.

As Turkmenistan's Oil and Gas Ministry said, the issues of financing and attracting investments to the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline and the emergence of new opportunities for Turkmenistan's gas export thanks to the commissioning in Dec. 2015 of the East-West gas pipeline will be discussed during the congress.