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Energy news
Bulletine Energy 


2017 July 12 ( Wednesday )  10:41:08
Print version
Русский 

 

President of Azerbaijan: Oil Can Bring both Benefit and Headache

Azerbaijani President Ilham Aliyev notes the role of projects implemented with the participation of Baku in ensuring global energy security.

"Azerbaijan is aware of its responsibility, and we are well aware that the projects implemented jointly with our partner countries will ensure the energy balance and energy security of many states," Aliyev said at the 22nd World Petroleum Forum in Istanbul.

"I want to touch on another topic. As a rule, non-oil-producing states think that it would be good if they had oil and they would take advantage of this. However, oil can bring both benefit and headache," the President emphasized.

Aliyev noted that this depends on how to use oil revenues. "We in Azerbaijan are trying to turn "black gold" into human capital. I think we have achieved this. The revenues we receive from oil are accumulated in a transparent form in the Oil Fund," he said.--0-

Novak Announces Exit Point of Turkish Stream on Land

Baku/12.07.17/ Turan: The World Petroleum Congress is held in Istanbul. However, the day before the focus was on gas supplies. In addition to other topics, the timing of the project Turkish Stream was discussed, Energy Minister Alexander Novak said. --0-

Gazprom Agrees with Ankara on Financing of Turkish Stream

Gazprom has reached an agreement with Ankara on the procedure for financing the construction of the ground part of the Turkish Stream gas pipeline, which will pass through Turkey. This statement was made by the General Director of the Turkish State Pipeline Company Botas Burhan Ozcan on the margins of the 22nd World Petroleum Congress.

"We have already agreed with them on this issue. However, I cannot disclose the figures - in what percentage we will do it," he said.

Ozcan stressed that the negotiations on obtaining permits for the second branch of the Turkish Stream, according to which gas will be supplied to the country, continue in a "positive way".

The head of Botas also said the gas pipeline will be opened to the land in the European part of Turkey in the Kiyikoy district in Thrace. "Despite the various rumors, there are no changes in this geography. However, we cannot say now if the point will be in this settlement or somewhere nearby," the General Director explained.

Gazprom began construction of the offshore section of the Turkish Stream on May 7, 2017. In June, the Deputy Chairman of the Board of Directors Andrei Kruglov said the current assessment of Gazprom"s investments in the construction of the Turkish Stream is $ 6 billion. -0-

US Sanctions Can Put End to Gazprom"s Projects

Baku/12.07.17/ Turan: Gazprom has already built about 50 km of the Turkish Stream on the bottom of the Black Sea, Energy Minister Alexander Novak said.

This is stated in the prospectus for the issue of Eurobonds of Gazprom, the Vedomosti newspaper reports.

If the current version of the bill on new US sanctions against Russia comes into force, it can delay and even "prevent the completion of projects by the group," the document says. Among such projects, the prospectus includes the Nord Stream-2 and Turkish Stream pipelines.

The sanctions in question are an initiative of US senators. On June 15, the bill was approved by the US Senate and sent to the House of Representatives. It will review the document after 10 July.

The bill provides for the right of the US President to impose sanctions on individuals and companies that have invested in the construction of export pipelines by Russia from $ 1 million for once or more than $ 5 million in a year. It is forbidden to provide equipment, technologies and services for such projects. --0-

China Announces Record Production of Shale Gas

Baku/12.07.17/ Turan: The "shale revolution" in China, announced by BP in 2015, continues to gain momentum.

Last year, shale gas production in China increased by 76% and reached 7.9 bcm, Xinhua reports with reference to the Ministry of Land and Natural Resources .-- 0-

Shale Oil Production in US to Grow

Baku/12.07.17/ Turan: Investments in the production of shale oil in the US in 2017 will grow by 53%. This is reported by Dow Jones with reference to the statement of the International Energy Agency, IEA.

The statement also says that the IEA estimates that the cost of oil and gas exploration in 2017 is likely to fall by 7%. At the same time, according to analysts of the agency, reducing the costs of increasing the resource base increases the risks of shortage of supply. --0