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headlines from the caspian: july 3, 2023

Headlines from the Caspian: July 3, 2023

Author: Caspian Policy Center

Jul 3, 2023

Image source: Getty Images

Energy and Economy

 

Iran and Kazakhstan Sign US $1 Billion Trade Deals in the Agriculture Sector

On June 28, during a meeting between Deputy Agricultural Minister of Iran Alireza Peyman-Pek and Deputy Prime Minister and Minister of Trade and Integration of Kazakhstan Serik Zhumangarin, the Iranian side showed interest in investing in Kazakh medicine, dairy plants, and agricultural products. As a result, bilateral agreements in the agricultural sector worth US $1 billion were signed. Both sides also discussed increasing the bilateral trade to $3 billion.

Source: Astana Times

UK Oil Company Breaks Free of Price Cap on Kazakhstan's Outputs

The United Kingdom’s Nostrum Oil & Gas company, which operates the Chinarevskoye oil and gas field in northwestern Kazakhstan, has been subject to the $60 per barrel price cap ceiling approved by G7 countries for the past year. Because of this price cap, in the first quarter of 2023 daily sales volumes averaged 7,300 barrels of oil equivalent per day (BOEPD against 14,000 BOEPD in the same period of 2022. Now, Nostrum is looking to purchase an 80% stake in Positive Invest that holds rights to the Stepnoy Leopard fields in Northwestern Kazakhstan. This acquisition will allow Nostrum to become the operator of this field and avoid the Urals pricing restriction. 

Source: Upstream Online

Kyrgyzstan and Malaysia Sign Bilateral Cooperation Document

Foreign Minister Jeenbek Kulubaev met with his Malaysian counterpart, Zambry Abdul Kadir, during his trip to Kyrgyzstan. The two officials signed documents for bilateral cooperation and expressed readiness to collaborate in the framework of regional and international cooperation. 

Source: AkiPress

Georgian and Israeli Officials Discuss Strengthening Transport Ties

On July 3, Georgian Economy Minister Levan Davitashvili met in Tbilisi with Israeli Minister of Transport and Road Safety Miri Regev. The two officials discussed deepening economic cooperation between the two countries, especially in the fields of transport and logistics. Also up for discussion was the possibility of a free trade agreement between Georgia and Israel, following the conclusion of a feasibility study. The first round of talks toward this deal is set to take place in 2024.

Source: Agenda.ge

Security and policy

 

Azerbaijan and Armenia Make Progress in Washington

On June 29, U.S. Secretary of State Antony J. Blinken said Armenia and Azerbaijan made “further progress” during the three-day U.S.-led negotiations in Washington, DC. Armenian Foreign Minister Ararat Mirzoyan and his Azerbaijani counterpart, Jeyhun Bayramov, traveled to Washington for the second time in several months, and the two sides "reached an agreement on additional articles and achieved mutual understanding on the draft agreement, meanwhile acknowledging that the positions on some key issues require further work." 

Source: Daily Sabah

Kazakhstan to Take Over Shanghai Cooperation Organization’s Presidency in July

After the planned meeting between the Heads of State Council of the Shanghai Cooperation Organization (SCO) to be held on July 4, Kazakhstan will take the leadership role of the SCO from India for the next year until July 2024. Upon taking the Presidency of the SCO, Kazakhstan plans to hold around 80 events and foster cooperation in all areas.

Source: Astana Times 

Turkmenistan Opens its Newly Built Arkadag City

On June 29, Turkmenistan opened its newly constructed city,  Arkadag. This multi-billion-dollar city, built from scratch, is 30km south of Turkmenistan’s capital city, Ashgabat, and it was named after the current president’s father Gurbanguly Berdymukhammedov, who ruled from 2006 to 2022. The city houses a children’s medical center, electric public transportation, solar panels, wind turbines, and a Guiness-World-Record-winning monument, dedicated to Gurbanguly Berdymukhammedov. 

Source: RFE/RL

Newly Founded Turkmen City Starts with a High-Level International Investment Forum

Arkadag, the new city in Turkmenistan, held an International Investment Forum, “Smart City Arkadag,” on June 30 immediately after the city’s official opening. This forum welcomed delegates from multiple countries and representatives of international organizations and financial institutions.

Source: Turkmenistan Golden Age

Sources: Agenda.ge, AkiPress, Astana Times, Daily Sabah, RFE/RL, Turkmenistan Golden Age, Upstream Online


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