Page 15 - FSUOGM Week 20 2021

FSUOGM NEWS IN BRIEF FSUOGM

transactions in the secondary market has Ukraine, Ukrainian newspaper Enkorr has on Australian energy imports, the South
beaten a record of $200 million. The 5-year reported, citing market participants. China Morning Post has reported.
maturity of the first bonds will expire "The Swiss office of Socar Trading will be The development would be welcome
in October 2021, and their holders will in charge of sales and communication with news for the natural gas export-reliant
receive a total of $25 million,” the company Ukrainian counterparties. Meanwhile, the Turkmen economy, which has been crippled
subsidiary was quoted as saying. role of the Ukrainian office of the company by the global COVID-19 pandemic and
According to the company, new SOCAR in the distribution and sale of volumes is not associated restrictions. China is making
bonds will be issued for a period of five excluded," the publication reported. further cuts to energy imports from Australia
years. Representatives of Socar Trading's as bilateral relations between Beijing and
''The bonds will be issued in the amount top management reportedly visited Kiev Canberra continue to deteriorate. At least
of $100 million, and the par price per last week, where they held talks with the two of China’s small liquefied natural gas
security is set at $1,000. The annual rate counterparties of Proton Energy Group. It (LNG) importers have been ordered by
is 4.5 percent. Interest will be paid on a used to be Rosneft’s exclusive supplier of the authorities to halt new purchases from
quarterly basis. Subscription for SOCAR diesel and liquefied petroleum gas (LPG) to Australia over the next year.
bonds will begin on September 20 and will Ukraine, but decided to suspend shipments “China sees Turkmenistan as a long-
last 10 days. Local and foreign legal entities to the country from April 1. term cooperative partner on natural gas,
registered in Azerbaijan will be able to take The new operator was reported as saying and is willing to formulate a comprehensive
part in it. Priority in the sale will be given that fuel to Ukraine could be supplied this cooperation plan with the Turkmenistan side
to individuals. Individuals and legal entities month, although June was more likely. It with a future-oriented perspective,” Chinese
of other states will also be able to purchase added that it has a quota of over 100,000 Foreign Minister Wang Yi said, according to
bonds from their holders in the secondary tonnes of diesel fuel and 12,000 tonnes of a foreign ministry statement.
market,” SOCAR Capital was further liquefied natural gas (LNG)..”. The ministry said China and
reported as saying. Turkmenistan agreed to “further consolidate
and expand cooperation in natural gas,
and create a full industry chain strategic
SOCAR ‘becomes operator China 'to boost natural gas partnership in the energy sector”.
imports from Turkmenistan

for Rosneft oil products amid cuts to Australian gas
exported to Ukraine’

Azerbaijani national oil company SOCAR purchases'
has become an export operator for oil China intends to expand natural gas
products from Russia’s Rosneft exported to imports from Turkmenistan as it cuts back

Week 20 19•May•2021 www. NEWSBASE .com P15