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Energy news
Bulletine Energy 

2017 July 14 ( Friday )  10:27:36
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Southern Gas Corridor Important for EU - Sefcovic

Baku/14.07.17/Turan: For the European Union (EU) and Georgia the timely implementation of the Southern Gas Corridor is important as well as its extension over time to additional supply countries, said the European Commission Vice-President for Energy Union Maros Sefcovic.

He made the remarks ahead of the official visit to Georgia to attend Batumi International Conference "Ensuring Regional Stability" which will focus on the European Agenda, particularly on energy security and diversification of energy markets.

"Georgia has a key transit role to play in the opening of the Southern Gas Corridor," added Sefcovic.

The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey.

At the initial stage, the gas to be produced as part of the Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.

As part of the Stage 2 of the Shah Deniz development, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline. -0--

"Daughter" of SOCAR Signs Memorandum of Cooperation

Baku/14.07.17/ Turan: SOCAR Methanol LLC and SOCAR Polymer LLC signed a memorandum on cooperation in the sphere of summer practice programs, SOCAR Methanol said on July 13.

The document provides for the exchange of information on trainees in order to ensure the involvement of young professionals in the fields necessary to increase labor productivity, and conditions for the development and formation of staff.

"Two subsidiaries of SOCAR started cooperation to create conditions for identifying new talents and educating a new generation of professionals," it was reported.

In accordance with the memorandum, capable young specialists will participate in the SOCAR Methanol program at the SOCAR Polymer program of summer practice. -12D-

SOCAR-AQS Starts Drilling New Well in Shallow Waters of Gunashli

Baku/14.07.17/ Turan: SOCAR-AQS LLC started drilling a new well in the shallow part of the Gunashli field.

As the LLC reports, the design depth of well # 323 is 2,770 meters. The drilling will be carried out to the productive layer of Balakhani X. The customer of the drilling is PA Azneft.

The development of the shallow part of the Gunashli field has been under way since 1980. The field provides up to 65% of the entire oil production of SOCAR.

SOCAR-AQS LLC was established by SOCAR and Absheron Drilling Company in 2007 to provide drilling and well servicing. -12D-

Payment for Russian Transit Gas for Georgia to Be Through Mixed System in 2017 - Minister

Baku/14.07.17/ Turan: Georgia will buy gas from Gazprom only if necessary, and the country does not have any obligations to purchase specific volumes of natural gas, Ilya Eloshvili, the new Energy Minister, told journalists in Tbilisi yesterday.

"Why did we sign a contract with Gazprom? Because we need additional volumes of natural gas in certain periods," he said, explaining the reasons for the renewed agreement with Gazprom on the transit of Russian gas to Armenia.

He noted it is not worth talking about how profitable or losing for Georgia the new agreement with Gazprom is. "The main thing is that we have no obligation to buy a certain volume of gas, we buy gas from Gazprom when it is not enough in the country," the Minister said.

According to the contract signed in January of this year, in 2017 Gazprom pays for transit of gas through a mixed system - partly with money and partly with gas, and in 2018 - only with money.

The volume of transit of Russian gas to Armenia through Georgia will be 2-2.2 bcm in 2017-2018 annually. Gazprom has also pledged to supply gas to Georgia at a discount of $ 30 per 1,000 cubic meters in relation to 2016, that is, for $ 185.

* According to the energy balance, Georgia plans to import 2.457 bcm in 2017, including 2.347 bcm from Azerbaijan (95.5%) and 110 mcm from Russia. It should be noted that following the results of the first quarter, Georgia already purchased 100 mcm of gas from Gazprom, i.e. 30 mcm in January and 70 mcm in February. -0

Kazakhstan Increased Gas Production by 15% in H1, 2017

Baku/14.07.17/ Turan: Due to the commissioning of the Caspian field Kashagan in the autumn of last year, Kazakhstan managed to significantly increase oil production this year.

According to the statistics committee of the Ministry of Economy of Kazakhstan, according to the results of the first half of 2017, the volume of crude oil production increased by 8.7% compared to the same period in 2016 - up to 35.863 million tons.

In addition, the volume of gas condensate produced in the country increased by 15.6% to 6.691 million tons.

During the reporting period, 11.549 bcm of natural gas (+ 15.2%) and 14.733 bcm (+ 14.5%) of associated gas was produced in Kazakhstan.

According to statistics, in the first half of the year Kazakhstan produced 52.617 million tons of coal, which is 17.5% more than in January-June 2016.

Electricity production increased by 10.8% - to 50.997 billion kW / h.

* By the end of 2016, Kazakhstan produced 65.577 million tons of crude oil, 12.464 million tons of gas condensate, 21.384 bcm of natural gas, and 24.945 bcm of associated petroleum gas.

Europe to Pay for Modernization of Gas Pipeline in Kazakhstan

Baku/14.07.17/ Turan: The European Bank for Reconstruction and Development (EBRD) has published a tender on the EU's portal for contracts, which involves upgrading the main gas pipeline on the Tobol-Auliekol section in the Kostanai region of Kazakhstan.

The coordinator of the project is the state gas transportation company of Kazakhstan.

"JSC KazTransGas Aima received a loan from the EBRD to finance the project for the modernization of gas distribution networks," the document says.

Europeans plan to update five sections of the main pipeline in various regions of Kazakhstan - in the Aktyubinsk, Mangistau and Kostanay regions - until 2019. The cost of the project is estimated at 25 billion tenge (approximately € 67.5 million, of which € 54 million will be provided by the EBRD).

"The investment program provides for the expansion of the gas network and the connection of regional administrative centers to it," the tender says. -0

Oil Production in OPEC Increased to 32.61 Million Barrels per Day in June 2017

Baku/14.07.17/ Turan: In June 2017 OPEC increased oil production by 393.5 thousand barrels per day compared to May 2017 - up to 32.611 million barrels per day. This is reported in the cartel's monthly report on oil production.

Oil production increased most in Libya, Nigeria, Angola, Iraq and Saudi Arabia, while in Venezuela there is a decline.

The oil production in Libya rose to 852 thousand barrels per day, and in Nigeria it rose up to 1.733 million barrels per day.

The oil production in Saudi Arabia increased by 51.3 thousand barrels per day - up to 9.95 million barrels per day. However, according to Saudi Arabia, its production increased by 190,000 barrels per day - up to 10.07 million barrels per day.

At the same time, Iraq increased production in monthly terms by 60.6 thousand barrels per day - up to 4.502 million barrels per day. Thus, the country has fulfilled its obligations under the Vienna agreement by only 28%.

Iran increased oil production in comparison with May 2017 by 16.7 thousand barrels per day - up to 3.79 million. -0