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Azerbaijan gas for Europe receives $1b boost
Multilateral banks and a syndicate of commercial banks will provide US $1 billion to finance development of an Azerbaijan offshore gas field feeding Southern Gas Corridor from the Caspian Sea to Europe. The Asian Development Bank (ADB) and the European Bank for Reconstruction and Development (EBRD), with the participation of the Black Sea Trade and Development Bank (BSTDB), are arranging a financing package of US $1 billion for a...
Business-as-unusual for oil in medium term: IEA
The recent crash in oil prices will cause the oil market to rebalance in ways that challenge traditional thinking about the responsiveness of supply and demand, the International Energy Agency (IEA) said in its annual Medium-Term Oil Market Report (MTOMR) released 10 February 2015. The US light, tight oil (LTO) revolution has made non-OPEC production more responsive to price swings than during previous market selloffs, the report...
EBRD invests in Tajikistan hydropower
The European Bank for Reconstruction and Development will invest more than $75 million in developing hydropower in the Central Asian state of Tajikistan, the bank said. Harnessing the potential of hydropower “for decades” has been behind the construction of hydroelectric power plants in the region EBRD covers, the bank said 2 September 2014. “This was especially true in Central Asia where the annual thaw in the Pamir...
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