Kazakhstan: Kashagan officially presented

Kazakhstan’s huge oil field Kashagan was officially presented on December 7, Kazakh Energy Ministry said. Kazakh President Nursultan Nazarbayev took part in the event. Oil production at Kashagan was launched in autumn and reached commercial level of 75,000 barrels per day on November 1. Currently work is carried out in order to increase the level…

Kazakhstan: FCC for 3- and 4-grade wheat purchasing prices up

JSC National Company Food Contract Corporation announced the increase of the purchasing prices for 3- and 4-grade wheat Triticum aestivum L., the company’s press-service reported. In particular, the prices for 3-grade wheat, purchased to the commercial resources of the company, increased from 41`500-50`000 KZT/ton to 49`000-58`000 KZT/ton for VAT taxpayers (depending on the qualitative indicator),…

Estonia: Elering announces tender for designing and building Estonian-Latvian power connection

As part of building the third power connection between Estonia and Latvia, Estonian power grid operator Elering has announced a procurement tender for designing and constructing the Estonian side of the project. “The new Estonian-Latvian power connection is notable because a project important from the energy security and market standpoint will be carried out without…

Ukraine: grain exports up

According to the Agriculture Ministry, Ukraine exported 18.38 MMT of grains in the season 2016/2017 by December 1, up by 5.9% YoY. In particular, the exported volumes included 10.08 MMT of wheat, up by 1.18 MMT YoY. Barley exports in the period under review totaled roughly 3.95 MMT and corn exports amounted to 4.25 MMT.…

Azerbaijan: Baku airport serves 3 million passengers in January-November 2016

The Heydar Aliyev International Airport served more than 231,000 passengers in November, up by 23% YoY, the airport’s press service said. The airport served almost 3 million passengers in January-November. Of them, 1.8 million passengers chose to fly with Azerbaijan’s national carrier, Azerbaijan Airlines (AZAL). Some 500,000 passengers were transported via AZAL domestic flights to…

Asia: Azerbaijan, Kazakhstan, Turkey and Georgia railway bodies ink MOU

Heads of railway authorities of Azerbaijan, Kazakhstan, Turkey and Georgia signed a memorandum of understanding (MOU) in Baku on prospects of development of the Trans-Caspian International Transport Route (TCITR), a message from Azerbaijan Railways CJSC said. Head of Azerbaijan Railways CJSC Javid Gurbanov, President of Kazakhstan Railways JSC Kanat Alpysbaev, Director General of Turkish State…

Ukraine: barley exports up in October 2016

According to official information, Ukraine exported 525 KMT of barley in October, up by 16.4% YoY (451.1 KMT). In total, Ukraine has increased its barley exports by 3.7% this season, to 3487.5 KMT. Saudi Arabia is still the main destination market for Ukrainian barley, though with lower shipments now. Ukrainian exporters shipped 1.43 MMT of…

Azerbaijan: another 26 agroparks to be built

It is planned to build another 26 agroparks in Azerbaijan, the country’s Economy Minister Shahin Mustafayev said. He said that the agroparks would be built in 19 districts of Azerbaijan. A variety of processing and manufacturing enterprises are planned to be built in these agroparks. Currently, the work is underway in Azerbaijan to create ‘Yalama’…

Turkmenistan: Afghanistan to get $1 billion for transit via TAPI pipeline

Afghanistan will profit by more than $1 billion per year for gas transit via the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline. Necessary infrastructure facilities – plants, gas compressor stations and gas purification plants will be built along this energy bridge. “More than 12,000 jobs will be created for our Afghan brothers”, Turkmen President Gurbanguly Berdimuhamedov said. The main…

Ukraine: agro-industrial complex provides more than half of the growth of capital investments in the economy

In January-September the share of agro-industrial complex in the general growth of capital investments in Ukraine reached 51.3%, including the agricultural component at 39.6%, and the food industry at 11.7%, the Head of investment department at the National Scientific Center Institute of Agrarian Economics Nikolai Kisil declared. According to him, in January-September the general volume…

Latvia: rail cargo transportation up

Continuing last year’s autumn trend, the volume of cargoes carried by Latvijas dzelzcels had increased in November. The volume of cargoes transported by rail reached 4.46 million tons, up by 7.6% YoY. Coal transports have increased significantly. 1.8 million tons of coal was transported in November. This exceeds the index of November 2015 by 28.7%.…

Uzbekistan to raise prices on alcohol

The minimum wholesale and retail prices on alcoholic beverages (except for beer) in Uzbekistan will be raised starting from January 1, 2017, according to a joint decision of the country’s Ministry of Finance and the State Tax Committee. The minimum wholesale wine price for producers will be increased from 4,500 to 5,400 Uzbek soums (UZS)…

Latvia: investment inflow to be positive

In Q3, the current account formed a surplus of 1.5% of the country’s GDP, according to the data from the Bank of Latvia. This year’s general surplus is 1.1% of GDP. It is expected that investment inflow will remain positive. It will be slower than last year, predicts Swedbank economist Agnese Buceniece. Contribution to the…