Page 19 - FSUOGM Week 06 2021

FSUOGM NEWS IN BRIEF FSUOGM

Capital reports. Kobolev expects that such procurement and construction contracts, as during a Taliban visit to Turkmenistan for
issues will be considered at Ukrnafta’s next part of the modernisation and reconstruction talks.
shareholder meeting. of the refinery in Baku, Azerbaijan. The Taliban, to everyone’s surprise, in
Interfax-Ukraine also reported on The overall contracts' value equalled February 2018 announced support for the
January 28 that Naftogaz had sent a letter $160mn, it added. TAPI project in exchange for a future share
to the minority shareholders of Ukrnafta Maire Technimont said in a press release: of transit revenues.
calling for a shareholders meeting as soon “The scope of the two contracts entails the "Without a doubt, the immediate
as possible. installation of three new generation refining construction of such projects as TAPI.
Minority shareholders aligned with units which are are crucial to upgrade the and railroads between Turkmenistan and
Kolomoisky have already filed legal quality of gasoline to the EURO-5 standard. Afghanistan will help achieve peace and
complaints against the Ukrainian Both projects will be executed in the Heydar economic development in Afghanistan,"
government in 2016 demanding Aliyev Oil Refinery, where Tecnimont and Taliban spokesman Mohammad Soheil
compensation for an alleged $4.67bn in KT-Kinetics Technology are already jointly Shahin told journalists in Ashgabat after
losses. According to Ukraine’s Justice executing an EPC contract awarded in 2018. talks.
Minister Denys Maliuska, the Arbitration The projects under new EPC contracts are Turkmen state media did not report on
Court in Stockholm might rule on this expected to be completed respectively within the meeting.
case in February 2021. He estimated the 33 months and 26 months from the signing The 1,814-kilometre TAPI pipeline is set
potential loss for the government from the date. to run from Turkmenistan’s Galkynysh gas
claim at about $6bn. “This is a major milestone for Maire field to the Indian city of Fazilka via Herat
“Meanwhile, the claim of Ukrnafta Tecnimont Group's core business, since it and Kandahar in Afghanistan and Quetta
minorities against the government, however allows to further consolidate the Group's and Multan in Pakistan.
absurd it could look at first glance, is a industrial footprint in the strategic The pipeline’s costs are estimated at
risk that should not be ignored. If the Azerbaijani market and in the crucial natural $10bn.
minorities win their claim in Stockholm, resources transformation sector. Moreover,
their leverage in Ukrnafta will significantly it confirms the orientation of the Group
increase. Moreover, in such [a] case, it to leverage its distinctive competencies, North Macedonia will
might happen that the government will have technological know-how and synergies
to compensate the minorities by providing between its EPC contractors.” build a pipeline to import
them some shares in Ukrnafta, which would Pierroberto Folgiero, Maire Tecnimont
result in losses for Naftogaz,” Paraschiy said. Group CEO, commented: "We are really Azerbaijani gas
This is not the first time that the idea of honored to put once again our technological
splitting the two companies has come up. expertise at the service of an historical and North Macedonia will hold a tender for
The government was toying with the idea in prestigious client such as SOCAR, thus the construction of a 68-km gas pipeline
2019, but dropped it in August of that year. consolidating our successful, longtime from Negotino to Gevgeli that will import
"Now the idea of splitting Ukrnafta collaboration aimed at unlocking greater Azerbaijani gas, APA reported February 8.
between its shareholders is no longer value in Azerbaijan's downstream value Northern Macedonia's transport minister,
relevant," Yuriy Vitrenko, the executive chain. This achievement lets us foster a Blagoj Bocvarski, made the announcement
director of the Naftogaz group, said at the mutually beneficial relationship and paves after discussions with Azerbaijan.
time. Vitrenko was recently proposed by the way to future growth, confirming the According to the report, the construction
Zelenskiy for the post of Energy Minister, reliability of our technology-driven strategy." of the new gas pipeline will allow the country
but was rejected by the Rada, where Maire Tecnimont heads an industrial to provide access to the Greek gas network
oligarchs control almost 200 of the 422 group in the global natural resource and, therefore, the Trans-Adriatic Pipeline
seats. processing industry (downstream oil & (TAP).
gas plant engineering, with technological According to the minister, the
and executive expertise). Its subsidiary construction permit is expected to be issued
NextChem operates in the field of green by the middle of this year.
CENTRAL ASIA & SOUTH chemicals and technologies in support of It should be noted that the commercial
the energy transition.ue. We will meet with transportation of "blue fuel" through the
CAUCASUS them," Koldasov said. 878-kilometre section of the Southern Gas
Corridor (SGC) will begin later this year.
Maire Tecnimont announces Taliban expresses support 10bn cubic metres of gas a year from the
The SGC project will initially transport
$160mn refinery works deal for TAPI pipeline during Shah Deniz-2 project to Europe.
The pipeline will run through Greece,
with Azerbaijan’s SOCAR Albania and the Adriatic Sea to southern
Italy.
Milan Stock Exchange-listed Maire Tecnimont Turkmenistan visit The pipeline could double its capacity to
has announced that its subsidiaries Tecnimont An Afghan Taliban delegation to 20 bcm per year.
and KT - Kinetics Technology have signed Turkmenistan has once again expressed
with SOCAR’s (State Oil Company of the Taliban's interest in the Turkmenistan-
Azerbaijan Republic’s) subsidiary Heydar Afghanistan-Pakistan-India (TAPI) natural-
Aliyev Oil Refinery two engineering, gas pipeline project. The nod of approval came

Week 06 10•February•2021 www. NEWSBASE .com P19