revista presei pe energie 29 septembrie – part II

2010/09/29

Novinite: Macedonia Starts Gazprom Talks to Join South Stream

Macedonia will hold talks on October 1 with Russian gas giant Gazprom on joining the South Stream gas pipeline project.

This has been announced by Macedonia‘s Finance Ministry on Tuesday, after in June 2010 a delegation to Moscow led by FYROM‘s President George Ivanov sounded out the possibilities for joining the project.

“We will do our best to persuade Gazprom that the project is profitable both for the company and for the Republic of Macedonia thanks to the creation of a South Stream transportation corridor leg in the country. It is of great importance for future stability and safety of gas supplies,” the ministry quoted its head Zoran Stavreski as saying.

The Russian government has signed intergovernmental agreements with Bulgaria, Serbia, Hungary, Greece, Slovenia, Croatia and Austria to implement the land phase of the project, which aims to ship up to 63 billion cubic meters of Russian gas per year under the Black Sea to central and southern Europe.

In June, Macedonian President Ivanov met his Russian counterpart Dmitry Medvedev Friday, and later his delegation had discussions with other high-ranking Russian officials, including head of Russian gas company Gazprom Alexei Miller.

The South Stream pipeline, a project of Gazprom, Italy’s Eni, and France’s EDF, is projected to deliver gas from Russia through the Black Sea and then on to Southern Italy and Austria in two branches. Up to now, plans include the pipelinebranching up in Bulgarian territory northwards to Serbia, Hungary and ultimately Austria, and southwards through Greece and ultimately southern Italy.

As Romania has already joined the project, inclusion of Macedonia could help Russiacompletely circumvent Bulgaria in the execution of the project if relations with the government in Sofia become strained.

Novinite: Bulgaria with High Hopes for 2nd Black Sea Energy Forum

The second edition of the “Black Sea Energy and Economy Forum” has started inIstanbul with Bulgarian Economy Minister Traicho Traikov among the participants.

The Black Sea forum is an initiative to bring together business leaders and policy-makers to discuss strategies regarding Eurasia, Black Sea, the Caspian and Central Asia.

Traikov is meeting Wednesday with Turkey‘s Energy Minister, Taner Yildiz, to discuss the future 76-km reversible gas transit pipeline connection between the two countries.

The pipe is supposed to be built in accordance of the requirements of the future EU-sponsored pipeline Nabucco, and even to become the first operational section ofNabucco, in the words of Traikov himself.

The construction of the Bulgaria-Turkey pipeline in question will finally allow Bulgaria to import natural gas from the Caspian region and the Middle East; at present, all of its gas imports come from Russia. It is to be funded with EU money.

The Black Sea Energy and Economy Forum was opened by Turkish Prime MinisterRecep Tayyip Erdogan; it is organized by the US Atlantic Council. The Council head Ross Wilson has indicated that Macedonia and Serbia might also be connected with Nabucco in the future.

The key decisions of the forum are expected to be connected with the mechanism for activating the export of gas from Azerbaijan‘s field Shah Deniz 2, which is supposed to fuel Nabucco after 2016.

Even though Iraq and Afghanistan do not technically belong to the Black Sea Region, they are represented at the Istanbul forum, unlike Iran.

Similarly, Russia is represented in a somewhat low-profile fashion, only with executives of a couple of energy companies, and without any government officials; the Russian-sponsored pipeline South Stream has not been included at all in the forum’s agenda.

US Special Ambassador for Eurasian Energy Affairs Richard Morningstar arrived for the Black Sea energy forum from Washington, DC, as did one of the emblematic makers of US foreign policy Zbigniew Brzezinski.

energia.gr: Turkey PM Says Nabucco Agreements To Be Signed Soon; Scolds EU

Turkey ‘s Prime Minister Recep Tayyip Erdogan said Wednesday that agreements related to the Nabucco pipeline project are planned to be signed in October, but urged European policymakers to catch up with regional developments and be sensitive to Ankara ‘s energy interests in the region.

It wasn’t immediately clear which agreements the prime minister was referring to, however, the pipeline project, which is slated to transport gas from the Caspian and Middle Eastern regions to central Europe through Turkey, has gained a degree of momentum in recent weeks following the Sept. 2 announcement that top international lenders would sign an agreement to take a senior financing role in the project.

” Europe will win as much as Turkey if projects here are completed,” Erdogan said in a speech to the Black Sea Energy and Economic Forum in Istanbul . “ButEurope unfortunately is lagging behind in this regard,” he added.

The Nabucco pipeline is expected to deliver around 31 billion cubic meters of gas annually from the Caspian region and Iraq to central Europe through Turkey, Bulgaria , Romania and Hungary , bypassing Russia .

The Nabucco pipeline has been backed by the European Union as it is considered crucial to diversify the block’s heavy dependence on Russian gas.Russia accounts for around 25% of the EU’s annual gas supplies.

Russia , the world’s biggest energy supplier, wants to build its own routes to bypass transit country Ukraine after rows in recent years over prices. Its South Stream project is scheduled to start by the end of 2015.

ITAR TASS: Gazprom to sign gas deals with Poland in October

Russia’s national gas utility Gazprom may sign new gas deals with Poland in October, the Prime-Tass economic news agency said on Wednesday, referring to Gazprom deputy chairman Alexander Medvedev.

According to the Gazprom executive, last week the sides held talks on the matter, attended by observers from the European commission. “The last talks were constructive, we made certain amendments to the initialled agreements, which, however, did not change their essence. If the Polish side endorses the documents, they will be signed in October, and Poland will receive as much gas as it needs,” Medvedev said.

In the mean time, he stressed that the sides were resolute not to revise the current Polish intergovernmental agreements. “As a European Union member, Poland has undertaken to bring its laws in line with the European legislation but it has taken the most radical version of the third energy package, not in force as of yet,” he added

RT.com: TNK-BP signs up for Vietnam supply

TNK-BP has signed up to supply PetroVietnam 100 thousand tonnes of ESPO brand oil, for one year starting from November, with the company saying it’s a step on the road to closer energy cooperation with Vietnam.

Speaking in Moscow to Business RT, TNK-BP Sales Vice President, Jonathan Kollek added that moving into the Vietnamese market alone constituted a valuable strategic asset.

“It opens a new partnership in one of the most dynamically growing economies of the world. The east is the driving economy of growth, and Vietnam is one of the most dynamic economies in the east. By 2025, they say that it will be the most dynamic economy, with a growth of 10% per year. So a partnership with them, for us, is strategic, a valuable asset.”

Phung Dinh Thuc President and CEO of PetroVietnam said that after thirty years of successful performance on the oil and gas Vietnams market the company looks forward to expand its foreign cooperation.

“We are moving onto foreign markets, including Russia’s, and are counting on the support of TNK-BP, with whom we intend to work in geological prospecting, extraction, and refining”

TNK-BP is also mulling the possibility of purchasing BP assets in Vietnam in the context of its association with PetroVietnam, and is interested in being involved in the development of deposits located near BP assets.

ITAR TASS: Medvedev urges for measures to ensure gas supplies to Kamchatka

Russian President Dmitry Medvedev on Wednesday urged the national gas utility Gazprom, the federal government and local authorities in Russia’s Far Eastern Kamchatka territory to take necessary measures to ensure gas supplies to each of Kamchatka’s households.

“I want the government, Gazprom, and you to discuss most efficient ways to ensure gas supplies to every house on Kamchatka. It should be done the soonest possible,” Medvedev said at a meeting with Kamchatka governor Alexei Kuzmitsky. “Please report if you need any political assistance or extra money. We shall take all decisions.”

“We have opened this gas topic not to leave it at the gas mains level,” he said. “We shall provide gas to each house.”

Earlier in the day, the Russian president attended an opening ceremony of a gas mains linking the Sobolevo field with the city of Petropavlovsk-Kamchatsky. “Obviously, it is a long-expected event, but it is only the beginning of the process of installation of gas supplies to the entire Kamchatka peninsula and of resolving a whole range of tasks,” Medvedev said and added that “gas will promote Kamchatka’s general development, it will help create conditions for the development of the economy and social sphere in the region.”

centralasianewswire.com: New Turkmen-Iran oil pipeline nearly ready for operation

The 96-mile pipeline linking gas fields in Turkmenistan to consumers in Iran is nearly ready for operations.

The pipeline, measuring 48 inches or 4 feet in width, is now in the midst of extensive testing to ensure its viability before the gas flow officially begins, the United Press International (UPI) news service reported Alireza Gharibe, the managing director of Iran’s Gas Engineering and Development Company, as saying on Thursday.

The pipeline has already undergone five tests for gas leaks, and will complete nine more in October.

The $180 million pipeline is expected to transfer 45 million cubic meters (bcm) of gas a day at its optimum capacity, UPI reported.

The gas will be provided by Turkmenistan’s largest field of gas reserves, Dauletabad, which is believed to hold 40 trillion cubic feet of gas in total.

No exact date was given for the expected start of the pipe’s operation.

centralasianewswire.com: China Petroleum discovers new gas field in Turkmenistan

A large gas field on the right banks of the Amu Darya in Turkmenistan has been discovered by the state-owned China National Petroleum Company, Oil&Gas Eurasia reported on Tuesday.

“Daily output of 1.44 million cubic meters of natural gas has been coming from exploration well Oja-21 in Block B,” Rigzone on Tuesday quoted the CNPC company newsletter as saying.

The gas field is estimated to hold more than 100 billion cubic meters (bcm) of gas, Oil&Gas Eurasia reported a CNPC release as saying. Tests have determined that the gas reserves are of good quality.

The new gas supply will further increase Turkmen gas exports to China, the Reuters news agency on Tuesday reported CNPC as saying. China is set to receive over 3 bcm of gas this year alone from the joint project between CNPC and Turkmenistan.

Turkmenistan has also overhauled its gas-transportation infrastructure which will allow the resource-rich country to 60 million cubic meters (mcm) each day. Turkmenistan and China signed an agreement in June 2010 that will eventually send more than 40 bcm of Turkmen gas to China each year via the newly-opened Central Asian pipeline that stretches from Ashgabat to the Xinjiang Uyghur Autonomous Province in western China, Oil & Gas Eurasia reported.

The CNPC has been operating in Turkmenistan since 2002.

trend.az: Eurogas president: Caspian countries should study experience of Azerbaijan’s energy sector (INTERVIEW)

Trend interviewed President of the European Union of the Natural Gas Industry- Eurogas Jean-François Cirelli.

Trend: What are your long-term expectations on demand and prices for gas in Europe?

Cirelli: Because of its “green properties” and highly efficient application technologies, natural gas will remain the fuel of choice and will continue to make a growing contribution to energy supply in the EU27. Natural gas can play an important role as a fuel for the development of a sustainable energy future over the coming decades.

In May 2010 Eurogas published its 2030 long term outlook presenting a “base case scenario” and an “environmental scenario” (wwww.eurogas.org). According to its results, natural gas consumption in EU member states is expected to rise from 437 mtoe in 2007 to a range between 500 and 535 mtoe in 2030, which corresponds to an increase between 14% and 23%.

As a main driver of the natural gas growth in Europe the power sector is characterized by a strong competition between the different fuels. The current slowdown of the economy underlines the importance of maintaining the competitiveness of natural gas prices in Europe in the different market sectors.

Q.: In your opinion, how effective is the European policy to diversify sources of imports of gas and the plans on alternative pipelines construction?

A.: After years of almost uninterrupted growth, the European gas industry for the first time faced important sales losses with a gas demand drop of 6.4% in 2009 compared with 2008, mainly due to the economic slowdown. Although it might take some time before the EU gas consumption reaches again its 2005 peak level, we already see recovery signs and the demand is expected to increase in 2010. In the long term natural gas consumption in EU member states is expected to rise from 437 mtoe in 2007 to a range between 500 and 535 mtoe in 2030, which corresponds to an increase between 14% and 23%. At the same time we expect that the current production in Europe (including Norway) will decrease from 250 mtoe in 2007 to 200 mtoe in 2020 and 145 mtoe in 2030. Today European gas production (including Norway) accounts for 55% of supplies to the European gas market. Russia represents 23% of the European supplies, followed by Algeria with a 10% share.

Taking into account the increasing gas demand and the gradually declining indigenous production the currently contracted gas supply cannot meet gas demand in the longer term. New imports will be necessary from 2015 onwards. Although potential shale gas reserves in Europe could play a marginal role in offsetting the decline in indigenous production, in 2030 the EU gas market will need around 70% from regions outside Europe.

A long term approach is essential to put natural gas in a position to play its role as an essential and important fuel in a sustainable energy future. Additional investments in new pipelines, LNG terminals and storages are necessary and in the present slowing down of the economy it is important that they are market-driven. Therefore projects must be based on sound commercial evaluation in terms of capacity and gas volumes involved.

Q.: What is the role of the Caspian region in terms of diversification of energy supply sources and providing energy security for Europe?

A.: The potential of the Caspian region is enormous, both in terms of available resources (43 Tcm without Russia) and proximity to the European market (3000km). Out of the 5 countries in the Caspian region (Russia excluded), the European companies are already active in some countries, such Azerbaijan, Kazakhstan and Turkmenistan. But the potential of the Caspian region is very important and there is a great interest in its further development. In the region, Azerbaijan is an example to follow. The development of its energy sector and the cooperation with the international energy companies should be followed by the other countries. The European companies therefore hope that in the future Azerbaijan will also play a leading role in the region as an example and facilitator. Numerous projects are already promoted in the region, amongst which we can cite Nabucco, ITGI and TAP.

The 2009 Ukraine-Russia and more recently Belarus-Russia gas dispute have contributed in a stronger push towards diversification of sources and routes in Europe.

Q.: What importance do you attach to China in a competitive struggle with Europe for Caspian and Central Asian energy resources?

The Chinese market is of great interest for us. Its exponential growth, registering an average 20% of yearly growth until 2009 is spectacular. Even in 2009 in the context of the economic slow-down the Chinese market registered a 9% growth, which could be compared with the 6% decrease in the European market.

Although China is an emerging strong competitor for Europe, the European market is big with around 450 Mtoe of consumption and 200 Mtoe of required imports. The maturity, stability, competitiveness and expertise of this market remain some of its main advantages.

SUMMARY:
Eurogas is aimed to promote and support the European gas market. Eurogas brings together 40 large international companies.  10 companies are its associate members.

trend.az: SOCAR plans eurobond roadshow in 2011

The State Oil Company of the Azerbaijan Republic (SOCAR) will hold a eurobond roadshow next year, SOCAR Economic Affairs Vice President Suleyman Gasimov told Trend today.

“The company’s legal adviser has already been tasked with preparing a contract and a legal avenue for investors,” he said. “This takes a long time. Afterward, we will make presentations on varipus markets.”

The debut bond placement is expected to reach $500 million, which will be available in five tranches of $100 million each over a five-year period.

“The roadshow will be held in 2011 when the company is ready,” Gasimov said. “Today, the U.S. market is more interesting for SOCAR. The company would also like to place eurobonds in the European market, as well as the Asian market, particularly in Singapore, as SOCAR Trading has a representative office there and we are expanding our activities in the country.”

The SOCAR bonds will cover five years. The company’s consultant on the bonds issue, Citibank, has offered to place the bonds in the United States due to the “tremendous domestic interest,” Gasimov said.

SOCAR planned to release the bonds in 2009, as the measure was necessary to obtain a rating and carry out a two-year international audit. SOCAR held the first international audit in 2007 and the second in 2008. Furthermore, Miller and Land evaluated the hydrocarbon reserves of SOCAR’s fields. SOCAR approved the report.

trend.az: Minister: Azerbaijan has opportunity to provide Iran’s northern provinces with gas

Azerbaijan has the opportunity to provide northern provinces of Iran with gas, Minister of Industry and Energy Natig Aliyev said during a meeting Monday with an Iranian delegation headed by Iran’s Deputy Vice President Ali Agha Mohammadi.

He said that there are opportunities for exports of 350-500 million cubic meters of gas from Azerbaijan to Iran. The gas will be supplied to meet the needs of the Nakhchivan Autonomous Republic.

However, Azerbaijan has the opportunity to carry out commercial supplies to Iran to meet the needs of the northern provinces of Iran, the minister said.

Work is underway to increase the capacity of the existing gas infrastructure between the parties. Azerbaijan will be able to supply about 1 billion cubic meters of gas a year to Iran in the near future.

The minister said that Iranian gas will be supplied to Europe through Azerbaijan and Georgia in the future.

The minister also expressed satisfaction with the participation of Iran in the project to develop the Azerbaijani Shah Deniz gas field. Aliyev said that good results have been achieved while developing the first stage of the project.

news.az: Energy projects of Caspian-Black Sea region to be discussed in Istanbul

An international energy conference to discuss energy projects of the Caspian and Black Sea region starts in Istanbul on September 29.

Milliyet newspaper reports that the conference is expected to involve US special envoy on Eurasian energy Richart Morningstar, former adviser of the US president on national security Zbigniew Brzezinski, representatives of transnational companies and other high guests.

The opening of the conference is expected to be attended by Turkish Premier Recep Tayyip Erdogan.

The conference will discuss energy projects in the Caspian region on export of energy sources to Europe.

news.az: Georgia, Azerbaijan sign memo within project of creation of energy bridge

Georgia, Azerbaijan signed a memo on further development of energy ties.

Manager of Georgian State Power Grid Sulkhan Zumburidze and vice president of Azerenerji Marlen Asgarov signed a memo on further development of energy ties between the power grids of Georgia and Azerbaijan for creation of energy bridge with Turkey.

According to chief of the GSE public relations department Nino Jeyranashvili, this implies Azerbaijan’s participation in the project of construction of 400 KV energy distribution line Akhaltsikhe-Borchkha to connect the power grids of Georgia and Turkey.

‘The Azerbaijani side has voiced readiness to connect to the regime of the power distribution by the new corridor via this line and in this respect there is a need to coordinate schemes and regimes of power flows between Azerbaijan and Georgia’, she said.

She said the memo also envisions restoration of 500 kV energy distribution line Mukhransk valley to ensure stable flows of energy between the two countries.
‘The restoration of this energy distribution line will enable raising export and import of power in both directions’, GSE representative noted.

According to the agreement, in two weeks, the Georgian side will provide the whole necessary technical and legal information to the Azerbaijani colleagues for restoration of this line, after which Azerenerji will start necessary measures in Azerbaijan in a month.

Under the memorandum, until 1 January 2010 Azerbaijani side will provide information to the Georgian side about the terms of works in its territory. In turn, GSE promises to complete works on the restoration of this energy distribution line in Georgia in 18 months after signing the agreement.

As was reported, Azerenerji, Georgian state power grid and Corporation on transfer of electric power signed a memo of mutual understanding on Energy bridge Azerbaijan-Georgia-Turkey project in Tbilisi on 8 April 2009.

news.az: Azerbaijan interested in participation in Nabucco as gas producer, expert

Azerbaijan is interested in Nabucco project as a gas producer, expert on oil issues Ilham Shaban said.

‘Azerbaijan has given its political support to the project earlier within the framework of the Prague conference on Nabucco which was held on 7 May of 2009. Nevertheless, the project is in a strong need of commercial support which can be achieved through commercial negotiations’, Shaban said.

He noted that Azerbaijan will not take part in the project on the level of the government, since the decisions will be taken by economic subjects.

‘Today Azerbaijan does not have any legal commitments to Nabucco. However, considering economic expediency in terms of prices, transportation and due infrastructure, Azerbaijan may consider issues of participation in this project’, the expert said.

The expert also said new fields of gold, natural resources and copper have been revealed in Azerbaijan.

‘New fields of gold in a form of a structure have been revealed in Nakhchivan for over a year, along with commercial production in Gedabey.

However, the government of the country has not yet taken a decision about the development of the Gedabey field where volumes of natural reserves and copper ores have been revealed along with gold’, the expert said.

He noted that the form of these reserves keeping is unclear yet. They may be stored in a form of gold, revenues to be transferred to the State Oil Fund, or in a form of gold  reserves of the Central Bank.

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