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Revenues from Shah Deniz Project Revealed

Shah Deniz

The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the implementation of the project for developing the country’s Shah Deniz gas and condensate field from 2007 to March 1, 2016, totaled $2.457 billion. SOFAZ received $18 million from Shah Deniz project in January-February 2016 and $14 million of …

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Southern Gas Corridor Sells $1 bln Eurobond: Reuters

Azerbaijan’s Southern Gas Corridor company has sold $1 billion in a 10-year Eurobond, the finance ministry said on Thursday. “Demand for the Azerbaijan’s Southern Gas Corridor bond was secured in a great part by investors from the United States and Great Britain,” the ministry said in a statement. The Eurobond …

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Azerbaijan Places Bonds for Southern Gas Corridor With Almost 7% Yield

Southern Gas Corridor

Azerbaijan’s Southern Gas Corridor Company printed its $1bn 10year bond on Thursday 80bp back of the sovereign curve, benefiting from an explicit state guarantee, Global Capital agency reported. Initial price thoughts for the 10 year bond were released at 7% yield area on Thursday morning, but leads UniCredit, Citi and …

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Rouhani Preparing to Visit Pakistan to Spur Energy Projects

Rouhani Preparing to Visit Pakistan to Spur Energy Projects

Iranian president Hassan Rouhani is preparing to visit Pakistan in coming days, IRNA reported on March 22. According to the report, the major agenda at Rouhani’s visit to Islamabad is negotiation over Iran-Pakistan gas pipeline as well as boosting power export to this country. Before, Pakistani Express Tribune reported that two …

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Southern Gas Corridor Co Plans $1 bln Bond

Azerbaijan’s Southern Gas Corridor company plans to issue a $1 billion 10-year Eurobond, the Finance Ministry said on Saturday, Reuters reported. Azerbaijan’s Southern Gas Corridor company has opened books for its 10-year Eurobond issue, setting initial yield guidance in the 7 percent area, banking sources told Reuters on Thursday. Floatation …

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SOCAR Reveals Gas Export Volumes

SOCAR Reveals Gas Export Volumes

Azerbaijan’s state oil company SOCAR exported about 320 million cubic meters of gas to Georgia since the beginning of 2016, a source in SOCAR told Trend. “In average, nearly 5.3 million cubic meters of gas per day has been exported to Georgia since the beginning of the year, which is …

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Southern Gas Corridor has Means of Moving Beyond Pipeline Politics

The Southern Gas Corridor, which proposes gas supplies from the Caspian region to Europe, is an essential project and must be supported, the British Transatlantic and Caucasus Studies Institute director Ziba Norman told Trend news agency. “The Southern Gas Corridor and the diversification of supplies it offers to the EU …

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The World Market Price of Oil Slightly Dropped

The World Market Price of Oil Slightly Dropped

Oil fell around 3 percent Today after Iran dashed hopes of a coordinated production freeze any time soon, returning bearish sentiment to the market over a supply glut that has sent prices crashing. Global benchmark Brent crude futures LCOc1 fell back below $40 a barrel, trading at $39.20 at 1157 GMT, …

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SOCAR in Talks With Russia, Iran on Gas Purchase

SOCAR in Talks With Russia, Iran on Gas Purchase

Azerbaijan’s state energy giant SOCAR is in talks with the Russian Gazprom Company and Iran to purchase three billion cubic meters of gas annually. This was stated by SOCAR President Rovnag Abdullayev after the ceremony of launching the platform No 7 at the Gunashli field in the Caspian Sea on …

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