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Lenders back Azeri gas project with European focus

Asian and European lenders offer support for Azeri gas project that would help diversify a European energy sector dependent on Russia. Photo by tcly/Shutterstock MANILA, Aug. 7 (UPI) — Asian and European lenders unveiled a $1 billion finance package Friday to help fund an Azeri natural gas field meant to diversify the European energy sector. The Asian Development Bank and the European Bank for Reconstruction and Development, with support from the Black Sea Trade and Development Bank, announced funding support for the second stage of the Shah Deniz natural gas field off the coast of Azerbaijan. The ADB said the project is "crucial" for energy security in the European economy. "This project is one of the European Union’s highest priorities for the energy sector," EBRD Managing Director for Energy and Natural Resources Riccardo Puliti said in a statement. "It is key for energy security because it diversifies routes and […]

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War Haunts Russia’s Southern Fringe, Threatening Pipelines

Armenian soldiers during a cease fire during the Nagorno-Karabakh War in 1993. Russia’s southern periphery is closer to open war than at any time since the 1990s. Hostilities between Azerbaijan and Armenia are mounting 21 years after a cease-fire froze a conflict that flared in the dying days of the Soviet Union. During the relative calm, companies including BP Plc poured billions of dollars into producing oil and gas in Azerbaijan and building pipelines to link the country with southern Italy. The upswing in violence now threatens to put some of those investments at risk and destabilize a region that separates Russia from Turkey and Iran. A May 3 election looming in Nagorno-Karabakh, the region Armenians took over in the war more than two decades ago, may trigger a wider confrontation, the Royal Bank of Scotland Group Plc said. The vote “could further escalate the tensions, increasing the risks […]

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Gas key to EU ties with Azerbaijan

Natural gas developments key part of bilateral ties with Azerbaijan, country report from the European Union said. (UPI/Shutterstock/James Jones Jr.) Development of a natural gas pipeline network from Azerbaijan is one of the most important aspects of bilateral ties, a European Union report said Wednesday. The European Union published a series of reports Wednesday on the neighborhood policy for Eastern European and Central Asian countries, some of which are former Soviet republics. The report for Azerbaijan said the country’s economy was stable and diverse in part because of growth outside of the energy sector, which nevertheless underpinned bilateral ties . Azerbaijan is rich in natural gas reserves, which the EU sees as a source of diversification for an energy sector dominated in large part by Russia. "The commitment for the implementation of the Southern Gas Corridor continued to be of utmost importance for the EU-Azerbaijan dialogue," the country report […]

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BP closer to bringing Azeri natural gas to Europe

BP continues with development contracts for Azeri gas field meant to break Russia’s grips on the European energy sector. UPI/Maryam Rahmanian TORONTO, Nov. 20 (UPI) — A Canadian pipeline company said it secured a $200 million contract from BP to help develop the second phase of the Shah Deniz gas field off the Azeri coast. ShawCor Ltd., which has headquarters in Toronto, said its pipe coating division secured the contract for work at a plant in Baku , the capital of Azerbaijan. The contract is the second development contract awarded by BP for work in Azerbaijan this month. Energy services company Emerson Process Management secured a $40 million contract from BP to provide control and safety systems for an onshore terminal associated with Shah Deniz BP has awarded more than $1 billion in development contracts since selecting the Trans-Adriatic pipeline as its option for Shah Deniz last year. TAP […]

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Russia doesn’t fear Azeri gas, scholar says

Russia has little to fear about Azeri energy deals in Europe, scholar tells Turkish media. (UPI/Shutterstock/Igor Golovniov) Trade deals between Russia, Turkey and Azerbaijan should ease Kremlin concerns about Baku’s energy agreements with Europe, an Azeri scholar said. Elhur Soltanov, a foreign policy export at Azerbaijan Diplomatic Academy, told Turkish newspaper Hurriyet trilateral relations between Baku, Ankara and Moscow are a diplomatic success . "This interdependence, with all the interrelated energy and trade deals, eases Russia’s concerns over Azerbaijan’s energy deals," he said Monday. A European economy fearful that conflict in Ukraine could jeopardize the gas supplies Russia sends through the former Soviet republic has looked to Azerbaijan as a source of energy security. Last week, the State Oil Co. of Azerbaijan Republic announced it signed contracts in Turkey for the construction of the Trans-Anatolian natural gas pipeline . TANAP will transport natural gas from the Shah Deniz complex […]

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Azeri gas line contracts signed in Turkey

Azeri company signs documents with pipe suppliers for TANAP gas line from Shah Deniz offshore field. (UPI/Shutterstock/smereka) ANKARA, Turkey, Oct. 15 (UPI) — The State Oil Co. of Azerbaijan Republic announced it signed contracts in Turkey for the construction of the Trans-Anatolian natural gas pipeline. SOCAR President Rovnag Abdullayev signed the documents in Ankara with Turkish Prime Minister Ahmet Davutoglu and Turkish Energy Minister Taner Yildiz . The contract calls for a consortium of Turkish companies, and one Chinese contractor, to provide pipes for the TANAP pipeline . "TANAP is not only an energy project, but also a huge peace project," the Turkish prime minister said in a statement Tuesday. "It builds a peace bridge between the Balkans and Caucasus." TANAP will transport natural gas from the Shah Deniz complex off the coast of Azerbaijan through Turkey to the Greek border. British energy company BP leads the group that […]

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New War Risk on Russia Fringes Amid Armenia-Azeri Clashes

The leaders of Armenia and Azerbaijan plan to meet this week in a bid to defuse escalating tensions between the two countries after at least 18 soldiers were killed in the worst clashes in two decades. The fighting in the past week in the disputed region of Nagorno-Karabakh has been the deadliest since the two former Soviet states signed a cease-fire in 1994. Armenian President Serzh Sargsyan will hold talks with his Azeri counterpart Ilham Aliyev in the Russian city of Sochi on Aug. 8-9, Armenian Prime Minister Hovik Abrahamyan said on the government’s website. “We hope that serious arrangements will be reached during the meeting,” Abrahamyan said. “We are not afraid of war, I just think it is not clever to solve problems with wars in the 21st century.” The skirmishes between the South Caucasus countries, which border Turkey and Iran , flared amid the worst geopolitical standoff […]

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Europe leans on Azerbaijan for gas security

Building a gas corridor from Azerbaijan is just as as it is Azeri economic development, a top European leader said in Baku. European Commission President Jose Manuel Barroso spoke before an audience at the Azerbaijan Diplomatic Academy University, saying the country has undergone "radical and rapid change" since it gained independence from the Soviet Union in 1991. European leaders have said the huge volumes of natural gas off the coast of the former Soviet republic could help break Russia’s grip on the European energy sector. The so-called Southern Corridor envisions a series of pipelines from Caspian reserves to the European market. "This is a project that can encourage greater economic cooperation, improve energy security and create over 30,000 jobs in all countries along the corridor," Barroso said Saturday. British energy company BP is leading efforts to draw natural gas from the Shah Deniz gas field off the coast of […]

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