Каспинфо
ноябрь 1999

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Название: Бюллетень Туркистан на английском
Главные Пункты:
* Казахстан и Азербайджан хотят диверсифицировать маршруты нефтепроводов.
* Транснефть получит 120 млн. долларов за чеченский трубопровод.
* Шеврон продолжит инвестировать в бывшем Советском Союзе.
* Российские нефтяные фирмы начинают работать в Ираке.
* Сбербанк и ЕБРР отказываются от сделки с Транснефтью по строительству трубопровода в обход Чечни. 1 ноября 1999
(10.11.1999)


Полный Текст
Бюллетень Туркистан на английском
TURKISTAN-ECONOMY-BULLETIN...ISSN:--1386-6265
Volume 99:134-05-November-1999
Editors: Charlie Bartholomew, Mehmet Tutuncu
This issue distributes to 2593 subscribers in 65 countries
Reactions to: < turkistan-n-request@nic.surfnet.nl
This issue distributes to 2593 subscribers in 65 countries

Kazakhstan, Azerbaijan want diversity of oil pipelines November 02,

Kazakh Prime Minister Kasymzhomart Tokayev and his Azeri counterpart
Artur Rasizade said their countries would prefer to have a variety of
oil pipelines for the export of their oil.
Interfax quoted Tokayev as telling a news conference in Astana on
October 22 that his country supported the plans to construct a
Baku-Ceyhan pipeline. "The more pipelines available, the better for
Kazakhstan with its potential," he said.

The two sides have agreed to hold consultations on the commercial
feasibility of the project whose costs are estimated by various experts
at US$ 2.4 billion to US$ 4 billion, Tokayev said. 1.5 million tonnes
of Kazakh oil has been moved to Azerbaijan across the Caspian Sea, he
said. An annual amount of 10 million tonnes will be moved that way His
country does not rule out building a pipeline towards Iran and, if a
peace treaty is signed, across Armenia, Rasizade said.

The two countries have only unspecified minor differences over the
status of the Caspian Sea, he said. Kazakhstan wants the seabed and its
mineral resources divided into national sectors while believing that the
surface and water resources of the sea should be used jointly Rasizade
was staying in Kazakhstan on an official visit at the head of a
governmental delegation.
The two heads of government the Kazakh-Azeri in governmental trade and
economic co-operation commission and two governmental delegations met
Friday morning. Agreements were signed on co-operation in public health
and medical science, protection of copyright, similar rights and working
activities and social protection of Azeri and Kazakh citizens
temporarily employed in the other country.
A program of bilateral co-operation and a plan of activities in its
implementation were adopted.

***********

Russia
Transneft gets $120m for Chechnya pipeline November 02, 1999

Transneft, a monopoly operating Russian oil pipelines, has obtained from
Sberbank and the European Bank for Reconstruction and Development (EBRD)
a $120m guarantee for the construction of a branch of the
Baku-Novorossiiysk oil pipeline to bypass Chechnya. Talks on guarantees
are underway also, with other western banks, Transneft CEO Semyon
Vainshtok is quoted as saying. Fuel and Energy Ministry figures put the
cost of the 250 km pipeline at $200 -$250m, It will take six to eight
months to build.

Chevron to go on investing in FSU Posted Tuesday, November 02

The president of Chevron Neftegaz Inc. said the company would invest
between $500 million and $1 billion a year over the next few years in
the TengizChevroil project to boost oil production in Kazakhstan. The
project is the first and most successful to involve a foreign investor
in the Commonwealth of Independent States (CIS), Interfax quoted him as
saying. Precisely how much the company invests will depend on progress
made by the Caspian Pipeline Consortium (CPC) with transporting Kazakh
crude to market. Chevron will invest $700 million in this project by
2001. As for Chevron's activity in Russia, MacDonald said the Russian
projects were "long-term" and would definitely be carried out" "I do not
consider it hard to work in Russia," Interfax quoted MacDonald as
saying. He said be wished the rules by which various instructions were
given could be consistent. He cited alterations and uncertainty as the
worst problem with investing in Russia. "If certain companies are
reluctant to invest in Russia, it is only because of the uncertainty the
other problems can be solved," he said. Although Chevron has not
invested in production sharing agreements, MacDonald said the Russian
PSA law was generally okay. There were some little details to sort out,
like guarantees for the return of moneys, calculation of the tax base,
and permitted quotas to use local personnel and inputs. Interfax quoted
MacDonald as saying oil companies in Russia were working closely with
the State Duma, making their proposals on how to improve legislation.
This is a normal process that can ultimately produce decisions to suit
everybody, although it is very time consuming,

Russian Oil firms Start Work in Iraq- 28 Oct 1999 Reuters
BAGHDAD, - An Iraqi newspaper reported on Wednesday that Russian oil
companies had begun implementing $400 million worth of contracts in
Iraq.

Al-Illam (information) weekly quoted Oil Minister Amir Muhammed Rasheed
as saying these firms would take part in developing oil and gas fields.
"Russian companies have begun implementing contracts worth $400 million
which were signed recently with the ministry of oil," the paper said.
It said the contracts included the development of oil refineries and the
southern oilfields of al-Lihais, stage six of Rumailah and various gas
fields.

Under the current United Nations sanctions, imposed for Iraq's 1990
invasion of Kuwait, Baghdad is banned from free oil exports and
investment in its oil sector. But the U.N. has permitted Iraq to sell
limited quantities of crude to buy relief needs for Iraqi people.

Russian Fuel and Energy Minister Viktor Kalyuzhny in recent press
remarks said private Russian oil companies might start developing Iraqi
oilfields despite the sanctions. He was quoted by a Russian newspaper
as saying the government could not prevent private oil firms like
LUKoil, where the state had just a 28 percent stake, from intensifying
cooperation with Iraq if it decided to ignore the sanctions.

LUKoil is entrusted with implementing a $3.5 billion contract Baghdad
signed two years ago with Moscow to develop the seven to eight billion
barrels of reserves in West Qurana oilfield in southern Iraq.

Kalyuzhny, during a visit to Iraq earlier this month, said the U.N.
sanctions posed problems in implementing the West Qurana deal but said
he had signed new contracts with Iraqi officials. He detailed several
other projects that Russian firms could start work on such as oil
exploration, drilling and development of Iraq's oil refineries and gas
fields.

The Iraqi paper did not name these companies but Kalyuzhny in previous
remarks had named them as Tatneft, Bashneft, Rosneftegazstroy and
LUKoil.


Yugo Bank Group to Finance Gas Transit via Hungary
BELGRADE, Oct 30, 1999 -- (Reuters) Thirteen Yugoslav banks on Friday
set up a consortium to finance the transit of Russian gas through
Hungary, but declined to be identified for fear of joining a list of
officials banned from the European Union.

"The banks have agreed to finance $13.5 million worth of the gas transit
costs through Hungary. A further $3.0 million will be financed from
other sources," Milos Milosavljevic, chairman of the board of directors
of the bank association and head of Jugobanka, told a news conference.

The agreement was reached at a meeting held behind closed doors and
bankers left without comment.
"I do not want the name of my bank in any report," said one banker who
asked not to be named.

Serbian bankers and businessmen are afraid mention of their names in
media could get them put on a list of officials and individuals close to
the government of Yugoslav President Slobodan Milosevic banned from
traveling to EU countries. The list, which also involves freezing the
officials' assets in the EU, currently contains 308 names.

The independent Beta news agency reported earlier this week that
Jugobanka, Beogradska Banka and Komercijalna Banka were among members of
the consortium. Their directors are already on the list.

Milosavljevic declined to say which banks had joined the consortium with
the task to service Belgrade's rescheduled debt to Hungary for transit
costs. Local media have said the debt ranged between $20 and $25
million.

Deliveries of the gas, which Serbia agreed with Russia's gas monopoly
Gazprom in September, started only 10 days ago after Budapest allowed
the transit.

Hungary, an aspiring EU-member, had blocked the shipments for nearly a
month of its own accord, insisting it wanted to comply with an EU fuel
embargo against Yugoslavia, which never specifically mentioned gas.


Sberbank, EBRD deny deal with Transneft on oil pipeline to bypass
Chechnya 1 Nov 1999 AFP
MOSCOW, Nov 1 (AFP) - Sberbank and the European Bank for Reconstruction
and Development said Monday they denied a deal with oil pipeline
operator Transneft on the funding of a new oil pipeline to bypass
Chechnya.
Last month, Transneft announced an agreement with the two banks
for a guaranteed loan of 120 million dollars. The pipeline, which the
Russian government says should be completed within six months, will
bypass northern Chechnya, transporting Azerbaijani oil from the Caspian
to the Russian port of Novorossiiysk.
Construction of the project, the cost of which is estimated at 180
million dollars, compared with initial estimates of between 200 and 259
million dollars, has begun, although no information has been released
about the means of financing it.
Russian gas giant Gazprom to sell 4.8 percent stake to foreigners 3 Nov
1999 AFP
MOSCOW, Nov 3 (AFP) - Russian gas giant Gazprom wants to sell 4.8
percent of its shares to foreign investors in the near future, said the
firm's deputy director-general Sergei Dubinine, quoted by the ITAR-TASS
news agency Wednesday. No other detail was reported. Gazprom, which in
1998 produced 94 percent of the gas extracted in Russia and 23 percent
worldwide, controls a quarter of the world's natural gas reserves. The
government owns about 40 percent of the company.