Azerbaijan News

 

Risky Bet: NOCs Risk Wasting $400B as Energy Transition Accelerates

Feb 09, 2021

State-owned oil companies could squander about $400 billion on investments in the next decade on new oil projects that will struggle to turn a profit as the world shifts away from fossil fuels, a non-governmental organization said on Tuesday…

Azerbaijan Starts Gas Exports to Europe

Jan 04, 2021

Azerbaijan has started commercial natural gas supplies to Europe via the Trans Adriatic Pipeline (TAP), the energy ministry said on Thursday, beginning its push into the lucrative energy market dominated by Russia.The project has the backing…

East Med Dispute: Erdogan Unmoved by EU Sanctions Threat

Dec 10, 2020

Turkish President Tayyip Erdogan accused the European Union on Wednesday of never acting honestly towards his country and said Ankara was not concerned by any economic sanctions the bloc might impose on it.EU foreign ministers said on Monday…

SOCAR-KBR JV Nearly Done with ACE Platform Work

Nov 11, 2020

Houston-based engineering giant KBR has said that its joint venture with the Azeri oil firm SOCAR, which is working on the engineering design phase of the Azeri Central East (ACE) platform, is now nearing completion of its workscope.The $6 billion…

Azerbaijan Pressing Ahead with Gas Pipeline Extension, Despite War

Nov 06, 2020

Azerbaijan will press ahead with plans to feed natural gas into an extended pipeline network to southern Europe, a senior official said, even as conflict rages for a sixth week in the enclave of Nagorno-Karabakh.Elshad Nassirov, vice-president of Azeri national energy company SOCAR…

Turkey Spuds Second Black Sea Well

Nov 05, 2020

Turkey began drilling at a second borehole in a Black Sea natural gas field where it made its largest-ever discovery earlier this year, Energy Minister Fatih Donmez said on Thursday.In one of the world’s biggest finds this year, Turkey said…

Turkey Raises Size Estimate of Giant Black Sea Gas Find

Oct 19, 2020

Turkey has raised the estimated reserves in a gas field off its Black Sea coast to 405 billion cubic meters after finding an additional 85 billion cubic meters, President Tayyip Erdogan said on Saturday.Erdogan said in August the field contained 320 billion cubic meters of gas…

Turkey: Erdogan to Reveal Total Size of Black Sea Gas Discovery

Oct 15, 2020

Turkish President Tayyip Erdogan said on Wednesday he will announce the total size of gas reserves found in the country's largest-ever discovery when he visits a drillship in the Black Sea on Saturday.In August, Erdogan hailed the discovery of a 320 billion cubic meter (bcm) (11…

BP to Start Shipping Gas from Azerbaijan to Europe by Year-end

Oct 14, 2020

Oil major BP has confirmed plans to start shipping natural gas from Azerbaijan to Europe by the end of the year, as concerns about the military conflict over the Nagorno-Karabakh region have heightened.Armenia and Azerbaijan have been involved…

JDR to Link Two Azeri Platforms with Fiber Optic Power Cable

Sep 29, 2020

Subsea cable supplier JDR has won a contract with BP to manufacture and supply a 5.5km 33kV fiber optic power cable and a steel tube subsea isolation valve (SSIV) umbilical, for a platform project, offshore Azerbaijan.The 33 kV fiber optic power…

Azerbaijan: Socar Says Oil & Gas Facilities Unaffected by Conflict

Sep 29, 2020

Azeri state energy company SOCAR said on Tuesday the country's oil and gas infrastructure was safe thanks to measures taken by the army over military conflict in the region of Nagorno-Karabakh.The worst spate of fighting between Armenia and…

Oil Prices Drop as Demand Worries Counter U.S. Stimulus Hopes

Sep 29, 2020

Oil prices dropped on Tuesday, paring gains from the previous session, as persistent demand concerns due to the coronavirus pandemic outweighed hopes generated by a new U.S. stimulus package that lawmakers are struggling to agree.More than 1…

Turkey to Send Another Drillship to Black Sea after Giant Gas Find

Sep 14, 2020

Turkey will send a second drillship to operate in the Black Sea, Energy Minister Fatih Donmez said on Sunday, weeks after Ankara announced its largest-ever natural gas discovery in the area.'Our drillship Kanuni, whose preparation work is continuing…

With U.S. LNG and Black Sea Find as Bargaining Chips, Turkey Seeks Better Gas Terms from Current Suppliers

Sep 10, 2020

Turkey expects gas suppliers to offer more competitive pricing and flexibility if they want to renew long-term contracts totaling 16 billion cubic meters a year, a senior energy ministry official said.More than a quarter of Turkey's long-term gas contracts expire next year…

Turkish Giant Offshore Gas Find 'Transformational', Woodmac Says

Aug 21, 2020

'Our Fatih drillship discovered 320 billion cubic meters of natural gas reserves, thanks to the drilling in the Tuna-1 well [...]. There is no stopping and resting for us until we become a net exporter in energy,' the Turkish president Recep Tayyip Erdogan tweeted on Friday…

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