Caspian Region News
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Statoil ASA is giving up a Kazakh offshore block after Norway’s biggest energy producer spent about seven years negotiating to start exploration, the latest international defection from a Caspian Sea project.
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Silk Road Management, an investor in frontier markets, will take stakes in three Myanmar projects by year-end, the first private-equity deals in Southeast Asia’s poorest nation as it emerges from five decades of isolation.
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Russian President Vladimir Putin embarks on his first foreign trip in two months with a visit to Turkey, trying to shield growing trade ties from a widening rift over the Syrian conflict.
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Nabucco Gas Pipeline International GmbH, the 7.9 billion euro ($10.5 billion) project to ship Caspian fuel to Europe, expects to make a decision on whether to link up with the competing Trans-Anatolia Pipeline next year.
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OMV AG , central Europe’s biggest oil company, is in talks to sell exploration assets in Russia as it focuses on the Caspian region and the Middle East.
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Azerbaijan plans to exclude Naftiran Intertrade Co., a partner in the BP Plc-led Shah Deniz natural- gas development, from a pipeline project to Europe from the Caspian region.
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The Nabucco natural gas pipeline intended to transport gas from the Caspian region to Europe has linked its timeline with the start of production at the Shah Deniz gas field.
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Total SA, Europe’s third-largest energy company, may join a pipeline to carry Caspian natural gas across Turkey as the European Union seeks to cut dependence on Russian fuel.
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The United Arab Emirates is tapping its $328 billion sovereign wealth fund to invest in gas-rich Turkmenistan, seeking fuel for its own use while potentially challenging Russia’s dominance as a supplier to Europe.
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OAO Gazprom , the world’s biggest natural-gas producer, and OMV AG , the Austrian company planning a pipeline from the Caspian region to Europe, agreed to cooperate on the South Stream gas project.
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