Page 15 - FSUOGM Week 34 2019

FSUOGM
NEWS IN BRIEF
FSUOGM
CENTRAL ASIA & SOUTH CAUCASUS
Turkmenistan to ship
40bcm of gas to China in
2019
Turkmenistan intends to ship 40bn cubic metres (cm) of natural gas to China in 2019 by pipeline, equaling the volume exported to China in 2018, an anonymous government source told Reuters on August 21..
China stands as the ex-Soviet country’s main buyer of natural gas and at certain points in the past couple years was its only gas customer. Turkmenistan recently resumed its gas sales to Russia, but at signi cantly lower volumes. e current deal with Russia sees gas supplies at 5.5bn cm a year - Turkmenistan’s gas exports to Russia used to stand at 50bn cm decades ago. e tightly controlled Central Asian nation does not o cially disclose its gas exports data.
Turkmenistan’s economy heavily relies on natural gas exports - though it has recently been attempting to enact some measures to diversify its economy.
August 23 2019
Singapore hosts Turkmen- Singapore business forum
Singapore hosted a Turkmen–Singapore business forum on August 26 as part
of Turkmen President Gurbanguly Berdymukhammedov’s visit to the country on August 26-27, the State News Agency of Turkmenistan reported. During the event, the Singapore Business Federation and the Trade and Industrial Chamber of Turkmenistan signed a memorandum of understanding (MoU) on cooperation.
e priority areas of this cooperation
are the oil and gas sector, energy, chemicals, agriculture and construction, transport
and logistics, the report said. e forum featured 40 “large” Singaporean companies and members of Turkmenistan’s Union of Industrialists and Entrepreneurs, it added. Trade between Turkmenistan and Singapore stood at $43.4mn in 2018, a vefold increase from 2016, the Singaporean side said.
“Singapore may become a springboard
for Turkmenistan to enter Southeast Asian market where huge opportunities for business communities are presented. Turkmen companies, which are willing to have access to this market would be able to open their
representative o ces in Singapore,” State Minister of Trade and Industry of Singapore Koh Poh Koon said.
August 27 2019
Azeri oil exports to Italy up 53.7% in H1-2019
Azerbaijan’s oil exports to Italy rose 43.7% y/y in the rst half to 5.7mn tonnes, earning $2.5bn in revenues, according to Azeri
state statistics. Italy accounted for 35.7% of Azerbaijan’s total oil shipments overseas.
Other leading buyers of Azeri crude include China, which took 1.3mn tonnes in the six-month period, India which bought 1.2mn tonnes, Germany which imported 1.2mn tonnes, Israel which received 1.1mn tonnes and Spain which purchased 895,000 tonnes.
August 27 2019
Week 34 28•August•2019
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