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headlines from the caspian: march 11, 2024

Headlines from the Caspian: March 11, 2024

Author: Caspian Policy Center

Mar 11, 2024

Energy and Economy

Türkiye and Turkmenistan Sign Major Gas Deals

Türkiye and Turkmenistan have reached a gas export cooperation agreement aimed at accelerating natural gas exchanges and forming the basis of future hydrocarbon partnerships. Turkish President Recep Tayyip Erdoğan and Chairman of Turkmenistan People's Council Gurbanguly Berdimuhamedow signed the deals on the sidelines of the Antalya Diplomacy Forum that took place from March 1-2.

Source: Caspian News, Voice of America

UK-Based Petrofac Extends Gas Field Operations Contract with Turkmenistan

Petrofac, a United Kingdom-listed service provider, has been awarded a 3-year operations contract from Turkmengaz at the Galkynysh Gas Field in Turkmenistan. This contract, valued at $200 million, allows Petrofac to provide personnel for supervising and supporting operations, technical support, procurement services, and the implementation of management systems for operations of central processing facilities 1 and 1A in the field. 

Source: World Oil

CASA-1000 Back on Track

The 1,300-megawatt power grid from Tajikistan and Kyrgyzstan to Afghanistan and Pakistan, CASA-1000, will resume development after the World Bank announced its intention to resume its $1.2 billion backing during last week’s Antalya Diplomacy Forum. Progress on this project, also known as the Central Asia-South Asia Electricity Transmission and Trade Project, was halted in August 2021 due to the Taliban takeover. The project is expected to start up again in late April. 

Source: TOLO News 

Kazakhstan to Host B5+1 Business Forum this Week

Key stakeholders and policymakers from the five Central Asian states (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan) will meet in Almaty on March 13-15 to discuss economic development with U.S. representatives and corporate officials. The Center for International Private Enterprise (CIPE), an affiliate of the US Chamber of Commerce, as supported by the US Department of State, is hosting the event and has identified five priority industries to discuss: transport and Logistics, e-commerce, tourism, Green and Renewable Energy, and Agribusiness.

Source: Daryo

Kazakhstan and Azerbaijan Sign Agreements on Oil Transportation

During Kazakh President Kassym-Jomart Tokayev’s trip to Azerbaijan on March 11, state-owned energy companies of Azerbaijan and Kazakhstan signed cooperation agreements on oil transportation. The State Oil Company of the Azerbaijan Republic (SOCAR) and KazMunayGas signed memoranda on “the purchase and sale of Kazakh oil,” as well as on “the staged increase of volumes of Kazakh oil transported through the territory of the Republic of Azerbaijan.” 

Source: Apa.az

Crypto Giant Announces Collaboration with Uzbekistan

Tether, a large cryptocurrency firm, signed a Memorandum of Understanding (MOU) with the National Agency of Perspective Projects (NAPP), Uzbekistan’s crypto regulator. Both sides expressed an interest in building a legal framework to support the issuance of a digital currency by the government of Uzbekistan. Tether indicated that it would support the development of this framework and help create Uzbekistan’s digital currency and payment infrastructure. The announcement comes as Bitcoin raced to an all-time high, evidence of renewed interest in crypto, e-currency, and the blockchain.

Source: News.Bitcoin

Security and Politics


Kazakh President Kassym-Jomart Tokayev Visits Azerbaijan

On March 11, President of Kazakhstan Kassym-Jomart Tokayev conducted an official visit to Azerbaijan. During the visit, President Tokayev held meetings with his Azerbaijani counterpart, Ilham Aliyev, in both limited and extended formats. The first meeting of the Azerbaijan-Kazakhstan High-Level Intergovernmental Council was held, following which several cooperation documents were signed between the two heads of states in the fields of energy, connectivity, aerospace, and education. The two leaders also attended a virtual ceremony marking the arrival of a container train from China's Xi'an terminal to Baku's Absheron as a part of the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor.

Source: President of the Republic of Azerbaijan, President of the Republic of Kazakhstan, Apa.az

Armenia Appoints New Minister of Economy

On March 7, Armenian Prime Minister Nikol Pashinyan announced the appointment of Gevorg Papoyan as the new Minister of Economy. The new appointment followed the resignation of the previous Minister of Economy, Vahan Kerobyan, due to corruption charges. 

Source: Caucasus Watch, Eurasianet

Sources: Apa.Az, Caspian News, Caucasus Watch, Daryo, Eurasianet News.Bitcoin, President of the Republic of Azerbaijan, President of the Republic of Kazakhstan, TOLO News, Voice of America, World Oil

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