Energy in Azerbaijan

[HyeSocialist]

Re: Energy in Azerbaijan

These idiots are so desperate to find ways in replacing their falling oil revenues are bumbling garbage on a daily bases.

"Fed decision may have impact on Azerbaijan in mid- and long-term period – central bank

The bank also said that Fed decision may have impact on the countries like Azerbaijan in the mid- and long-term period: “In order to regulate these impacts, Azerbaijani government and Central Bank are and will taking macroeconomic stability measures”.

http://en.apa.az/azerbaijan-economy/...tral-bank.html

They're placing the blame on the US. The Fed's interest rates are important to the world's economy, but the Azeris are prepping for the major spike in the exchange rate that is coming next year.

UPDATE 1-Azerbaijan plans to fully float its currency in 2017

http://www.reuters.com/article/azerbaijan-currency-idUSL5N1E72QR

[Azad]

Re: Energy in Azerbaijan

These idiots are so desperate to find ways in replacing their falling oil revenues are bumbling garbage on a daily bases.

"Fed decision may have impact on Azerbaijan in mid- and long-term period – central bank

The bank also said that Fed decision may have impact on the countries like Azerbaijan in the mid- and long-term period: “In order to regulate these impacts, Azerbaijani government and Central Bank are and will taking macroeconomic stability measures”.

http://en.apa.az/azerbaijan-economy/bourse/fed-decision-may-have-impact-on-azerbaijan-in-mid-and-long-term-period-central-bank.html

[londontsi]

Re: Energy in Azerbaijan

Azerbaijan Oil Platform Accident Kills One as Nine Still Missing

http://english.almanar.com.lb/134957

One oil worker was killed and nine others were missing Thursday after the oil platform they were working on in the Caspian Sea collapsed in heavy winds, Azerbaijan’s state energy firm SOCAR said.

The firm said in a statement that “a 150-metre section of a scaffold bridge and an oil platform collapsed into the sea as a result of heavy winds of up to 41 metres per second”.

“The body of one oil worker has been recovered. Nine people are missing,” SOCAR said, adding that the country’s emergencies ministry was conducting a rescue operation.

In December 2015, a storm damaged a gas line on a platform in the deepwater Guneshli section of the Azeri-Chirag-Guneshli offshore oil field, causing a fire that killed 33 oil workers.

Azerbaijan is a key partner in projects to deliver Caspian Sea energy reserves to the West through pipelines to Georgia and Turkey, bypassing Russia.

In 1994, the government of Azerbaijan signed an agreement to develop the vast Azeri-Chirag-Guneshli field with a consortium of foreign companies, including Britain’s BP, Norway’s Statoil, and American oil and gas giants Chevron and Exxonmobil.

Source: AFP

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[londontsi]

Re: Energy in Azerbaijan

BP-Exxon impasse blocks renewal of giant Azeri oil deal - sources

http://www.reuters.com/article/us-bp-exxon-azerbaijan-idUSKCN0ZH4LJ

U.S. oil major Exxon Mobil (XOM.N) and Britain's BP (BP.L) are at loggerheads over a giant oil production deal with Azerbaijan, blocking renewal of what was once called "the contract of the century", three high-level industry sources told Reuters.

BP, which operates the Azeri-Chigar-Guneshli (ACG) fields in the Caspian Sea and relies on them for a tenth of its global output, has tentatively agreed terms with the Azeri government on extending the 30-year contract, they said.

But Exxon, which gets around one percent of its hydrocarbon production through its stake in the ACG consortium, has been holding out for a better deal since the halving of world oil prices in 2014.

The result is deadlock in talks over a project that may produce another $100 billion worth of oil at current prices, coming on top of old tensions between Exxon chief executive Rex Tillerson and his BP counterpart Bob Dudley, the sources said.

"There have been numerous attempts to find a breakthrough, with BP and Azerbaijan agreeing new terms but Exxon rejecting them time and time again. It has been going on for almost two years, with Exxon insisting on better terms," a Western oil industry source familiar with discussions said.

A high-level source in the former Soviet republic said: "Exxon wants better terms. It has its own views of how the consortium should work which are different from the views of the operator BP."

Neither source would go into details of the terms under discussion.

While the existing deal still has eight years to run, usual energy industry practice is to try to renew such long-term production sharing agreements as early as possible - preferably around a decade before they are due to expire - to plan huge new investments in advance. So far the consortium partners have invested $32 billion in the project.

At stake is three quarters of overall Azeri crude output or about 600,000 barrels per day - equal to 0.7 percent of global output - extracted under the agreement between the ACG consortium members and the Azeri government.

Azerbaijan signed the original deal in 1994, only three years after the collapse of the Soviet Union. Since then, energy wealth has transformed what had been an impoverished nation into one confident enough to host a Formula One Grand Prix a fortnight ago, although the oil price crash has badly hurt its economy.

For Europe, the country is a vital source of oil and gas as the continent tries to lessen its dependence on Russian energy.

BP declined to comment on details of the extension talks, saying the ACG fields had already produced over 2.9 billion barrels since 1994. That would be worth $155 billion, using an average price of $55 per barrel for the past two decades.

"Together with our co-venturers in Azerbaijan, we remain committed to building on this record of success and supporting the continued development of the local market," BP said.

Exxon said it does not comment on "commercial negotiations".

TENSE RELATIONS

While BP has a 35.8 percent stake in the project, Exxon holds only 8 percent. Other members include Azeri state oil firm Socar and U.S. major Chevron with over 11 percent each, Inpex of Japan with 11 percent and Norway's Statoil with 8.6 percent. Turkey's TPAO, Japan's Itochu and India's ONGC have smaller stakes.

The ACG consortium has had problems in the past.

The fields had been expected to pump more than 1 million bpd at their peak but after hitting 820,000 bpd in 2010, output has fallen, prompting Azeri President Ilham Aliyev to accuse BP of making "false promises".

Azerbaijan even suggested it may develop the fields on its own after the deal expires in 2024.

But BP managed to mend fences and opened talks on extending the agreement until 2040 and possibly 2060. The aim is to extract as much as 2 billion barrels of additional oil, worth another $100 billion at today's prices of $50 per barrel.

However, oil companies around the world have been reviewing production contracts to slash costs and limit spending during the worst downturn in global prices in at least three decades.

Exxon's position began to toughen after 2014, and one source close to the discussions said the Tillerson-Dudley relationship had complicated matters. "It could have been sorted out at the very top level. But Rex and Bob have had frosty relations for years," the source said.

Sources pointed to several events over the past years which had soured matters between the two Americans.

After BP's deadly 2010 Gulf of Mexico disaster, Dudley said it was "one-in-a-million occurrence" and that BP did not act in a negligent manner. Tillerson, however, called the biggest oil spill in U.S. history "a breakdown of management oversight" and called Dudley's remarks "a great disservice to the industry".

A year later, BP lost a deal to drill for oil in the Russian Arctic after a surprise decision by its long-time local partner Rosneft to chose Exxon.

Then last year, BP was among a group of top oil firms that made a rare joint appeal in support of the United Nations-backed Paris climate deal. Tillerson refused to sign, saying he didn't want to be "disingenuous" or "fake it" as far as his long-standing scepticism on the issue was concerned.

In contrast to the ACG deal, a BP-led consortium which operates the giant Shakh Deniz gas field nearby agreed new terms with the Azeri government extending the agreement to 2036. Exxon is not involved in that consortium.

It is not unusual for host countries to use disagreements between consortium partners to extract better terms, under the threat of refusing to renew deals.

But the Azeri source played down this possibility. "Azerbaijan is not giving any ultimatums. We are still hoping for a deal before the end of September," the source said.

(Reporting and Writing by Dmitry Zhdannikov)

[Vrej1915]

Re: Energy in Azerbaijan

Exxon Mobil-ի բիզնես շահերը եւ առճակատումները Ադբեջանում
13.12.2016


Exxon Mobil կոնցեռնը, որի գործադիր տնօրենն է Ռեքս Թիլերսոնը, ում Դոնալդ Թրամփը նշանակել է ԱՄՆ պետքարտուղարի պաշտոնում, Ադրբեջանում լուրջ բիզնես շահեր ունի: Exxon Mobil-ի ներկայացուցչությունը Ադրբեջանում է գործում 1995 թվականից: Ադրբեջանում ExxonMobil-ը տնօրինում է «Ազերի-Չիրագ-Գյունեշլի» նավթահանքի բլոկի մշակման ծրագրի 8 տոկոս բաժնեմասը:

Ընթացիկ տարվա հուլիսին Reuters-ը հայտնել էր, որ ամերիկյան նավթային հսկա Exxon Mobil-ը եւ բրիտանական BP-ն համաձայնության չեն գալիս Ադրբեջանում հանքավայրերի շահագործման խոշոր գործարքի շուրջ՝ արգելափակելով, այսպես կոչված, «դարի պայմանագրի» երկարաձգումը:
«Ազերի-Չիրագ-Գյունեշլի» (ԱՉԳ) բլոկը շահագործող BP-ն Կասպից ծովում, որին է բաժին ընկնում նրա համաշխարհային արդյունահանման 10-րդ մասը, Ադրբեջանի կառավարության հետ նախապես համաձայնեցրել էր 30-ամյա պայմանագրի երկարաձգման պայմանները, հայտնել են աղբյուրները:
Սակայն Exxon-ը, որի ածխաջրածնային արդյունահանման մոտ 1 տոկոսը բաժին է ընկնում ԱՉԳ կոնսորցիումին, 2014-ին նավթի համաշխարհային գների գրեթե կրկնակի անկումից հետո գործարքի ավելի լավ պայմանների հույս ունի:
Արդյունքում՝ նախագծի շուրջ բանակցությունները, որը թույլ կտար ընթացիկ գներով եւս 100 մլրդ դոլարի նավթ արդյունահանել, փակուղի են մտել՝ սաստկացնելով Exxon-ի ղեկավար Ռեքս Թիլերսոնի եւ BP-ի նրա գործընկեր Բոբ Դադլի միջեւ գոյություն ունեցող լարվածությունը, հայտնել են աղբյուրները:
Մինչեւ գործող համաձայնագրի ժամկետի լրանալը 8 տարի է մնացել: Սակայն հանքավայրերի համատեղ մշակման վերաբերյալ համանման երկարաժամկետ գործարքների դեպքում ոլորտում ընդունված է բանակցությունները որքան հնարավոր է շուտ սկսել, ցանկալի է մոտ 10 տարի վաղ՝ նոր խոշոր ներդրումները պլանավորելու համար: Կոնսորցիումում գործընկերները արդեն նախագծի մեջ են ներդրել 32 մլրդ դոլար:
Խաղասեղանին է դրված Ադրբեջանի ընդհանուր նավթարդյունահանման երեք չորրորդ մասը կամ օրական մոտ 600 հազար բարել՝ համաշխարհային արտադրության 0,7 տոկոսը: Հանքավայրերի մշակումն իրականացվում է կոնսորցիումի անդամների եւ Ադրբեջանի կառավարության միջեւ համաձայնագրի շրջանակներում:
Նախագծում BP-ի բաժինը 35,8 տոկոս է կազմում, մինչդեռ Exxon-ինը՝ միայն 8 տոկոս: Կոնսորցիումի մյուս անդամների թվում են Ադրբեջանի SOCAR պետական նավթային ընկերությունը եւ ամերիկյան հսկա Chevron-ը, որոնցից յուրաքանչյուրի բաժնեմասը 11 տոկոս է, նույնքան է տնօրինում նաեւ ճապոնական Inpex-ը: Նորվեգական Statoil-ին հասել է 8,6 տոկոս, թուրքական TPAO-ն, ճապոնական Itochu-ն եւ հնդկական ONGC-ն ավելի փոքր բաժնեմասեր ունեն:
Հանքավայրերը բարձրակետին պետք է օրական արտադրեին 1 մլն բարելից ավելի, սակայն 2010 թվականին օրական 820 հազար բարելին հասնելուց հետո արդյունահանումն անկում է գրանցել: Ադրբեջանի նախագահ Իլհամ Ալիեւը BP-ին մեղադրել է «սուտ խոստումներ» տալու մեջ:
Ադրբեջանը նույնիսկ խոսում էր 2024 թվականին պայմանագրի ժամկետի ավարտից հետո հանքավայրերն ինքնուրույն մշակելու հնարավորության մասին:
Սակայն BP-ին հաջողվել է հարթել տարաձայնությունները եւ բանակցություններ սկսել մինչեւ 2040 թվականը պայմանագիրը երկարաձգելու շուրջ, հնարավոր է նաեւ՝ մինչեւ 2060 թվականը՝ բարելի դիմաց ընթացիկ 50 դոլար գնով 100 մլրդ դոլար արժեքով մինչեւ 2 մլրդ բարել նավթ արդյունահանելու նպատակով:

[Azad]

Re: Energy in Azerbaijan

azeris crying

"The weakening pace of growth in the economy of most world countries, and deterioration of macroeconomic indicators have an impact on Azerbaijan's economy as well," said Speaker of the Milli Majlis Ogtay Asadov as he addressed the plenary session of Milli Majlis on Tuesday.

"There was a need to make appropriate amendments to the humanitarian policy of the Central Bank." They are starting to sound like Janet Yellen

The Parliament Speaker noted that one of the key aspects of the state budget for the next year is the increase in revenues from non-oil sector in line with the Ministry of Taxes and the reduction of transfers from the State Oil Fund.

http://azertag.az/en/xeber/1016895

[londontsi]

Re: Energy in Azerbaijan

The issue is way beyond Greeks and shekels. Attached is a better map with many fields in Egypt, disputed Palestinian gas, lebanon was fighting it and some into Cypriot territories. It is a mess! Also, nothing was done by Lebanon and Syria, they might have more of it in those waters.

http://www.geopoliticalatlas.org/wp-...ranean_sea.png

Interesting.

From the map although there are disputed regions overall it should not hinder development.

The second point, Egypt seems to have vast reserves, the challenge is beyond development access to markets.
Israel-Cyprus-Greece pipeline could block access to markets or allow on parasitic terms.

There is no doubt that access to Turkey would have to go through Cyprus or combination of Lebanese/Syrian Exclusive economic zones
something that will not happen.

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[Azad]

Re: Energy in Azerbaijan

These are large chips being transferred across the table, something Turkey would not have given for free. One has to ask what was it exchanged for?

Most likely Russia will back off helping the kurds. As in do what pleases you turkey.
In return you stay away from my influence in the Caucasus.
Since it might be very unstable in Anatolia for years to come, we can profit from my Russian pipeline.
If aliyev can handle this pipeline by himself, we will not object. EU will get their diversification of two sources with you turkey being in the center of it.
Erdogan to Putin ... I like your idea. aliyev ... I know what you guys just did and it hurst my feeling specially coming from a turk. erdogan sends his side kick telling aliyev both pipeline will connect and we will all be happy.

[Azad]

Re: Energy in Azerbaijan

The map below clarifies that.

The issue is way beyond Greeks and shekels. Attached is a better map with many fields in Egypt, disputed Palestinian gas, lebanon was fighting it and some into Cypriot territories. It is a mess! Also, nothing was done by Lebanon and Syria, they might have more of it in those waters.

http://www.geopoliticalatlas.org/wp-content/uploads/2015/10/Main_gas_fields_in_eastern_mediterranean_sea.png

[londontsi]

Re: Energy in Azerbaijan

The latest on the azeri gas pipeline from hell. Italy is not too sure about the pipeline that runs from Greece to Italy. Azeris are begging the US now
since turkey back stabbed aliyev.

Info on the "Trans Adriatic Pipeline" that connects the Russian or the azeri incoming pipeline.

https://en.wikipedia.org/wiki/Trans_Adriatic_Pipeline

The azeris crying
"Azerbaijan: US should be at SGC consultative council meeting
The two sides also discussed the termination of the deal for the sale of 66-percent stake in Greek gas grid operator DESFA by Azerbaijan’s state oil company SOCAR and the impact, which the referendum in Italy can have on the implementation of the Trans-Adriatic Pipeline’s (TAP) construction project."

http://en.trend.az/business/energy/2694466.html

The Italians
http://www.naturalgasworld.com/analy...ferendum-34717

These are large chips being transferred across the table, something Turkey would not have given for free.

One has to ask what was it exchanged for?

.