Page 9 - MEOG Week 05 2023
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MEOG FINANCE & INVESTMENT MEOG
Russia overtakes China as
top foreign investor in Iran
IRAN RUSSIA has overtaken China as the biggest for- kamikaze drones, which it has used to attack
eign investor in Iran, Iranian newspaper Don- both military and civilian targets in Ukraine.
ya-e Eqtesad has reported, citing Ali Fekri, head After Russia, the United Arab Emirates,
of the state-run Organization for Investment and Afghanistan, Turkey and China were the next
Economic and Technical Assistance of Iran. biggest investors in Iran. China was said to have
A major factor in the change of ranking was cut investment spending in Iran over the past
reportedly that Russia spent $2.7bn on two oil year, limiting it to logistics centres or border
projects in the western Ilam province since last facilities related to Chinese export flows into the
2021. Persian Gulf country.
Trade and investment cooperation between Fekri was cited as noting that Russia has
Russia and Iran—the world’s most and second invested in Iran by either sending physical cash
most sanctioned countries, respectively—has or by using foreign currency traders.
been on an upward trend since Moscow turned Not all big Russian investments in Iran are
to Tehran as a regional ally after being hit by a proceeding smoothly, however. On January 24,
heavy economic backlash from Western coun- OilPrice.com reported that sanctions on Rus-
tries in the wake of its February 2022 invasion sia were stalling a flagship Iranian gas project,
of Ukraine. Iran has provided Russia with namely South Pars Phase 11.
POLICY & SECURITY
Questions raised over EU
compliance of Turkish gas deal
TURKEY MARKET participants have reportedly raised agreement, non-transparent capacity allocations
questions about whether a recent agreement and exclusivity given to a certain company” lim-
between Bulgarian Bulgargaz and fellow state- its liquidity and opportunities for cross-border
owned firm Turkish Botas complies with EU trading, which “is also not aligned with Turkey’s
rules. hub aspirations”, Glocal Group Consulting,
The January 3 deal gave Bulgargaz access to Investment and Trade energy expert and man-
LNG terminals in Turkey. It also granted the aging director Eser Ozdil told Argus.
right for the Turkish gas transmission system to European energy traders association Efet has
transfer up to 1.5bn cubic metres (bcm) of gas also relayed its concerns about access to trans-
per year to Bulgaria for 13 years. Analysts view mission capacity at Strandzha 1-Malkoclar.
the agreement as a first step in Turkey’s ambition “Capacity has not been offered to the market,
to become a gas trade centre. and preferential access appears to have been
However, as Argus has pointed out, the deal granted to Bulgargaz,” Efet said in an open letter.
does not come with an interconnection agree- Efet said the European Commission, as well
ment between Botas and Bulgarian grid operator as Bulgarian and Turkish authorities, should
Bulgartransgaz for the shared interconnection probe whether granting exclusive access “can be
point Strandzha 1-Malkoclar. That casts doubt considered to have an anti-competitive effect”.
on third-party access to the point. Botas is at present the only firm that receives
“Although we don’t know the full terms of the LNG in Turkey.
Week 05 01•February•2023 www. NEWSBASE .com P9
