Caspian Business News
November 20, 2008
Kazakhs, Azeris Agree on Trans-Caspian Crude Route
Reuters (via Yahoo), 15 November 2008
"State energy firms Azerbaijan's Socar and Kazakh KazMunaiGas [KMG.UL] agreed on Friday on the basic principles of a project to bring Kazakh oil across the Caspian Sea from 2013."
CPC Shareholders Gearing Up to Increase Project Capacity
RBC, 19 November 2008
"The shareholders of the Caspian Pipeline Consortium (CPC) have agreed to sign a memorandum in December stipulating the terms of increasing the project's capacity, Igor Dyomin, head of the press office of Transneft, the Russian oil transportation company holding a 31-percent stake in the consortium, told journalists today."
Caspian Energy Powers Split at Anti-Russian Summit
Interactive Investor, 15 November 2008
"Caspian Sea energy nations showed this week they remain close to Moscow's sphere of influence as some key producers declined to sign a declaration calling for a limit on Russian monopoly over export routes to the West."
Kazakhstan: Is Astana Losing Leverage With Foreign Energy Conglomerates?
Eurasianet.org, 13 November 2008
"The energy sector, Kazakhstan’s erstwhile reliable engine for growth, has stalled out. The trouble is related mostly to the global economic crisis, which has helped to spur a rapid decline in energy prices in recent weeks. But a backlash factor also may be at work, in which international energy companies start to push back against the hardball tactics that Kazakhstani leaders have been employing in recent months."
Kazakhstan: Development of Kashagan Field Will Proceed as Planned
Eurasianet.org, 13 November 2008
"Development of the Kashagan oil field in north-western Kazakhstan will go ahead as planned, despite the ongoing global financial crisis, the US ambassador to Kazakhstan, Richard Hoagland, has announced."
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KAZAKHSTAN NEWS
Kazakhstan Offers Help With Ossetian, Abkhaz Talks Radio Free Europe, 20 November 2008
"Kazakhstan, a former Soviet state with good ties to Russia and Georgia, believes it can help resolve the future of the rebel regions of South Ossetia and Abkhazia, Prime Minister Karim Masimov has told Reuters."
Kazakhstan January-September GDP Grows
NASDAQ, 14 November 2008
"Kazakhstan's national output rose 3.9% year-on-year in the January to September period, a report by the country's statistical agency said. The gross domestic product totaled 11613. 9 billion tenge."
Kazakhstan: IMF Official Praises Kazakhstani Bank Bailout Plan
Eurasianet.org, 19 November 2008
"The International Monetary Fund (IMF) is endorsing Kazakhstan’s multi-billion dollar bailout program, which aims to shore up the country’s sagging banking sector."
Obama Seeks More Cooperation With Kazakhstan in Nazarbayev Call
Bloomberg, 19 November 2008
"U.S. President-elect Barack Obama discussed security and enhanced cooperation in a telephone conversation with Kazakh leader Nursultan Nazarbayev, who heads the second-biggest oil producer among the ex-Soviet republics."
Kazakhstan Now Earmarking $21 Bln to Combat Crisis-PM
Guardian, 20 November 2008
"Kazakhstan plans to inject $21 billion into its economy, more than earlier expected, to counter the impact of the global financial crisis, but expects growth will still slow significantly next year, Prime Minister Karim Masimov said on Thursday."
S.Korea's Hyundai Wins $300 mn Kazakh Deal Economic Times
18 November 2008
"South Korean trading and construction company Hyundai Corp said on Tuesday that it signed a preliminary equipment deal worth $300 million from Kazakhstan."
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Turkmenistan: Berdymukhamedov Does Berlin
Eurasianet.org, 19 November 2008
"Turkmen President Gurbanguly Berdymukhamedov on November 17 wrapped up his first visit to Germany. Talks focused on ways to advance Turkmen-European Union cooperation, state-owned Altyn Asyr TV reported."
Petronas' Investment in Turkmenistan Reaches US$1.8 Bln
Bernama, 21 November 2008
"Petronas has invested up to US$1.8 billion in the oil and gas industries of Turkmenistan in the past 12 years, said Datuk Seri Abdullah Ahmad Badawi."
Socar to Sell Cheaper Gas to Georgia Over 5 Years
Reuters (via Yahoo), 21 November 2008
"Azeri state oil firm Socar will sell gas to Georgia over the next five years at a subsidised cost well below regional market prices, Georgia's Energy Minister Alexander Khetaguri told Reuters on Wednesday."