Azerbaijan: SOCAR to export LNG

The Azerbaijani state oil company SOCAR is supplying liquefied natural gas to new buyers. “SOCAR will possibly start “pure trading” in the next five years”, Arzu Azimov, chief executive officer of Geneva-based Socar Trading, said. “Until then it will focus on projects that involve using LNG to generate power in nations from Africa to Southeast…


Turkey and Turkmenistan mull bilateral ties

Turkey attaches special importance to the development of the traditionally friendly and fraternal relations with Turkmenistan, Ahmet Arslan, Turkish minister of transport, maritime affairs and communication, said. Arslan made remarks at a meeting with Turkmen President Gurbanguly Berdimuhamedov in Ashgabat. The sides expressed confidence in further development of the interstate cooperation, which was initially based…


Turkmenistan and Qatar mull cooperation prospects

Turkmen President Gurbanguly Berdimuhamedov discussed the topical issues of bilateral cooperation at a meeting with Qatar’s Foreign Minister, Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani, the Turkmen government said. Stressing the broad prospects for the development of trade and economic relations, the sides called for intensifying fruitful partnership in various fields. The oil and gas…


Uzbekistan to host conference on phosphorite processing technologies

Uzbekistan will host the first international conference “Resource saving technologies for processing of phosphorite of Central Kyzylkums into phosphate fertilizers and phosphoric salts” in October. Uzkimyosanoat and Ammofos-Maxam are organizers of the conference. According to the organizers, the conference will be held in Tashkent on October 10. The conference is aimed at discussing important achievements…


Russia: data retention laws to help industry develop

Implementation of Russia’s controversial package of anti-terrorism laws, obliging telecom and Internet operators to store metadata, content of users’ talks and correspondence, will give an additional impetus for development of the domestic industry, Industry and Trade Minister Denis Manturov said. “I positively see (the laws), because we will have a stimulus to develop our industries…


Uzbekistan: Boeing 787 Dreamliner starts carrying out internal flights

Uzbekistan Havo Yollari (Uzbekistan Airways) has started executing regular flights on Boeing 787 Dreamliner airplanes from on September 5. According to the press service of the airline, the Boeing 787 Dreamliner jet will be used to carry out internal flights. Uzbekistan Havo Yollari will conduct flights on route Tashkent-Urgench-Tashkent and Tashkent-Nukus with the new airplane.…


Turkey: Baku, Ankara and Ashgabat ink Trans-Caspian route declaration

Azerbaijan, Turkey and Turkmenistan have signed the Ashgabat declaration to create the Trans-Caspian transport corridor from Beijing to London, Turkey’s Transport, Maritime Affairs and Communications Minister Ahmet Arslan reported. Arslan said the document was signed during the first meeting of transportation ministers of the three countries. The declaration was inked by Ahmet Arslan, Azerbaijani Deputy…


Azerbaijan ahead of schedule on TANAP

The work within the Trans-Anatolian Natural Gas Pipeline (TANAP) project is underway in accordance with the plan, President of the Azerbaijani state oil company SOCAR Rovnag Abdullayev said. He said that there were no problems with the implementation of the project. “Partly, we are even ahead of schedule and 850 kilometers of pipes have been…


Azerbaijan invites Iranian businessmen for active co-op

Azerbaijan invites Iranian entrepreneurs to actively cooperate with local businessmen, said Azerbaijan’s Deputy Economy Minister Sahib Mammadov. Mammadov made the remarks during the Azerbaijani-Iranian business meeting in Baku. The meeting, organized by Azerbaijan Export and Investments Promotion Foundation (AZPROMO), was attended by more than 80 local and Iranian businessmen. Azerbaijani deputy minister said that Azerbaijan…


Russia: Uralkali board decisions

Uralkali, one of the world’s largest potash producers, announces the key decisions taken by its Board of Directors at a meeting on September 1. The board has approved of the list of candidates to be elected to the Board of Directors at Uralkali’s Extraordinary General Meeting (EGM), to be held on September 27: Dmitry Konyaev,…


Russia: 2016 GDP decline outlook worsened

Russia’s Economic Development Ministry has worsened its forecast for Russia’s gross domestic product (GDP) decline in 2016 to 0.5-0.6% from 0.2%, Minister Alexei Ulyukayev said.

The ministry’s basic forecast earlier implied a 0.2% GDP fall in 2016 with an annual average oil price of $40 per barrel. (Prime/Business World Magazine)

Russia: sunflower oil to get cheaper

Harvesting of sunflower and soybean has started in the southern regions of the Russian Federation and starting prices for raw materials of the new crop were announced in these regions. During last week Russian market of sunflower oil was characterized by a minimum volume of sales and a further decrease in producer prices. With increase…


Russia: gas wholesale domestic price to go up in 2017

The wholesale domestic price of Russian gas can increase by 2.5-3% in 2017, Deputy Economic Development Minister Nikolai Podguzov reported.

As regards the 2016 gas price increase, Podguzov said that the decision should be made by the Federal Antimonopoly Service. (Prime/Business World Magazine)