THE AUTHORIZED CAPITAL OF BANKS IN AZERBAIJAN HAS MADE 741.9 BN MANATS
BAKU.26.03.2004.MEDIA-PRESS: For March 1, 2004 the authorized capital of the Azerbaijan banks made 741.9 bn manats (4925 manats - $1). As it has been informed in the National Bank of Azerbaijan, 81 bn manats of this total are of state banks and 660.9 bn manats are of private. In comparison with the analogous period of the past year the authorized capital of banks has grown up by 15.8%.
BAKU.26.03.2004.MEDIA-PRESS: The volume of means and deposits attracted by the Azerbaijan banks made 3.32 trln manats (4925 manats - $1) by March 2004. In comparison with January of the current year this rate has grown by 8.8%.
BAKU.26.03.2004.MEDIA-PRESS: By data of the National Bank of Azerbaijan (NBA) by March 1, 2004 a total of means allocated to the economy of the country made 3.451 trln manats (4925 manats - $1). As Media-Press has been informed in the press service of the NBA, credits by a total of 2.377 trln manats are short term and long-term by 1.073 trln manats.
BAKU.26.03.2004.MEDIA-PRESS: For March 1 of the current year the volume of monetary turn-over in Azerbaijan has made 2.433 trln manats (4925 manats - $1). As Media-Press has informed in press service of the National Bank, the growth in comparison with the analogous rate of 2003 made 27.5%.
BAKU.26.03.2004.MEDIA-PRESS: Today in Baku the first State Secretary Deputy of the USA Mr.Richard Armitage. As it is known, before this the American diplomat visited to Kiev and Erevan.
BAKU.26.03.2004.MEDIA-PRESS: On the Armenian-Azerbaijan frontier laboratories for water content an quality will be constructed. The Minister of Ecology and Natural Resources of Azerbaijan Mr. Guseyn Bagirov has informed about this.
BAKU.26.03.2004.MEDIA-PRESS: By the data of the source close to the government of Turkmenistan, the President of this Republic Mr. Saparmurad Niyazov has decided to construct the route of the artificial river connecting it with the "Turkmen lake" built in the desert Karakum.
BAKU.26.03.2004.MEDIA-PRESS: The Minister of Energy of Armenia Mr. Armen Movsisyan has declared at the sitting of the Government of the country, that the gas pipeline Iran - Armenia, the construction of which is planned to be completed in the beginning of 2005, will be further continued to the territory of Georgia and then by the bottom of the Black Sea to Ukraine and to the West Europe. Thus, the Iranian and Turkmen gas will be delivered to the countries of the EU roundabout of Russia.
BAKU.29.03.2004.MEDIA-PRESS: In accordance with accounts of analysts of the company Raymond James & Associates Inc. in 2008 the Caspian oil will provide slightly more than 1% of the world demand while the OPEC will provide the world oil demands for 35 - 45%.
BAKU.26.03.2004.MEDIA-PRESS: Beginning from 2000 Azerbaijan imported 12 bn cubic meters of natural gas. It was delivered totally to the electric power stations of the country. And 4 bn cubic meters, which annually were produced in Republic, were distributed between the rest consumers. The Director of the JC "Azerigaz" Mr. Alikhan Melikov has brought them on the press conference.
BAKU.26.03.2004.MEDIA-PRESS: The JC "Azerigaz" has transferred 40 bn manats in 2003 to the state budget of Azerbaijan. The payments to the Fund of the social protection (4925 manats - $1) made 12 bn manats. The Director of the JC Mr. Alikhan Melikov has said.
BAKU.26.03.2004.MEDIA-PRESS: In Baku else 16 thou gas counters have been installed, the President of the JC "Azerigaz" Mr. Alihan Melikov has informed on the press conference.
BAKU.26.03.2004.MEDIA-PRESS: Since January 19 of the current year the Cabinet of Azerbaijan permitted consumption of natural gas in seedbeds, the Director of "Azerigaz" Mr. Alikhan Melikov has said. We shall remind that earlier in accordance with the decision of the government, consumption of gas in seedbeds was forbidden and "Azerigaz" had not a right of conclusion of relevant agreements with their owners.
BAKU.26.03.2004.MEDIA-PRESS: About $1 bn is required for realization of the program of the development of the electric power field of Azerbaijan up to 2010.
BAKU.26.03.2004.MEDIA-PRESS: On Monday, March 29 the meeting of the Ministries of Energy of 10 countries of the CIS participating in the program of the European Union INOGATE will be held in Brussels. The slogan of the meeting is "The New Perspectives of the Program INOGATE for 2004 -2006".
BAKU.26.03.2004.MEDIA-PRESS: On the forthcoming summit meeting of the OPEC on March 31 three sceneries of further deliveries of oil to the world market will be considered. The President of the OPEC Mr. Purnomo Uysgiantoro has declared about this.
The AC of banks with a sharing of the foreign capital made 298.1 bn manats for a beginning of the year or 40.2% from the AC of banks of country. The banks with 100% foreign capital make the authorized capital by 107 bn manats or 14.4% from the AC of all banks. In average, 16.5 bn manats are a share of each bank.
By March 1 of 2004, 45 banks operated in Azerbaijan. 17 of them are with a foreign sharing and its share in 4 of them makes 50 - 100%, in 11 - less than 50% and two branches of banks-nonresidents.
BY MARCH 1 BANKS OF AZERBAIJAN HAVE ATTRACTED 3.32 TRLN MANATS
579.5 bn manats make deposits in national currency and deposits in foreign currency make 2.741 trln manats (82.5%).
Deposits of physical persons made 1.357 trln manats and 1.203 trln manats were in foreign currency. The deposits of physical persons in comparison with March 2003 have increased by 53%. The deposits of juridical persons made 1.963 trln manats (1.456 trln. in currency).
CREDITS BY 3.451 TRLN MANATS WERE ALLOCATED TO THE ECONOMY
A share of the state banks made 1.562 trln manats; means of private banks made 1.517 trln manats and 371.5 bn manats - means of out of bank credit organizations. Only one third of credits was allocated in the national currency and the rest in foreign.
The volume of credit allocations to the different economic spheres looks as following: 22.04% of credits were allocated to the trade and services sphere, 13.31% - the development of transport and communications; 7.57% - energy and development of natural resources; 6.07% - agricultural sector. 7.72% - heavy and light industry, 5.7% - construction; credits to physical persons made 26.78%, 5.62% - the sphere of the state management. It should be mentioned that 75.15% of all allocated credits were allocated to the private sector of economy.
THE VOLUME OF MONETARY MASS IN THE TURN-OVER MADE 2.43 TRLN MANATS
1.854 trln manats make cash means, 579.5 bn manats make cashless means
MRS. ELIZABETH JONES ABOUT THE VISIT OF THE STATE SECRETARY DEPUTY OF THE USA MR. RICHARD ARMITAGE TO BAKU
The State Secretary of the USA on the issues of Europe and Eurasia Mrs. Elizabeth Jones has opened the details of tour of Armitage in the countries of the CIS. By her words, Mr. Armitage have intended for a long time ago to visit to these countries. "The goal of the negotiations, which Mr. Armitage conducts with the high-ranked officials of all three countries, is concluded in analyzing of wide sphere of bilateral connections, discuss ways of ghe development.
As to concretely to meetings, which should be held in Baku, Mrs. Elizabeth Jones has informed that in the agenda of the American side such issues as cooperation in the antiterrorist struggle, political and economic reforms, energetic problems, situation in the region, etc.
Mrs. Jones has noted that after election of Mr. Ilham Aliyev as the President of Azerbaijan the delegation of the USA of such large level visits to Azerbaijan at first. From this point of view the studying of main trends of activity of the new chief of the state and his government enter into the sphere of the interests of the official Washington. The relations of long standing established between Richard Armitage and Ilham Aliyev create the good base for negotiations. In Baku as well the meetings of opposition and non-governmental organizations will be held.
Mrs. Elizabeth Jones has said that both in Azerbaijan and Armenia ways of adjustment of Nagorno-Karabakh conflict will become one of issues of discussions. "We want having been familiarized with the social opinion existing in the region to determine, how the international society may assist to activities of the Minsk Group", - she has said.
THE LABORATORIES FOR ANALYSIS OF WATER QUALITY WILL BE CONSTRUCTED ON THE ARMENIAN-AZERBAIJAN FRONTIER
By his words, it is planned to establish such laboratories in Goradiz, Agstafa and Gazakh regions. The tests of water will be taken several times a day. On their base a database willl be founded and the contamination process will be monitored.
At the same time Mr. G. Bagirov has noted that at the last time reduction of contamination in bordering rivers is fixed. However, the Minister is not sure that Armenia has started to take a care of purity of its rivers. By his opinion, reduction of contamination is connected with the industrial cycle.
As well he has emphasized that Azerbaijan constantly looks raises the issue on contamination of bordering rivers in the international organizations and this gives its proper positive results.
TURKMENBASHI HAS DECIDED TO ORGANIZE A RIVER IN THE CENTER OF ASHGABAD
By the opinion of Niyazov, Ashgabad should not to "delay" from the leading capitals of the world, a major part of which stand on the river banks.
Mr. Niyazov intends to attract constructors from the Turkish companies "Chalik Holding", "Polimex" and French "Buig" to the execution of this objective.
The issue on creation of the artificial river in Ashgabad already was discussed at the special sitting under authorities of Mr. Niyazov with participation of the foreign businessmen, who have received a task to develop the construction project in the shortest terms and present it to Turkmenbashi for approval.
HAS EREVAN ENOUGH COURAGE AND MEANS FOR REALIZATION OF ANTIRUSIAN GAS PROJECT
As "Nezavisimay Gazeta" wries on this theme, in result of this project the Russian budget will loose several milliards dollars annually.
The project of the gas pipeline Iran - Armenia has a long and instructive for Moscow history. The idea has appeared in 1994,, when in chronically unstable Georgia the Georgian piece of the gas pipeline, by which Armenia received gas from Russia was broken constantly. For foundation of the alternative source of the electric supplying, in 1995 Erevan has signed the agreement on construction of the gas pipeline Iran - Armenia with Tehran.
When it became clear in Moscow that the diameter of the pipe of the future gas pipeline exceeds obviously rates necessary for gas supplying of Armenia, the former Russian Premier Mr. Kasyanov has put the issue of real fraud and leaving from the initial ideas to Robert Kocharyan. But during the first official visit of Mr. Vladimir Putin to Yerevan on September 2001 the Armenian President assured that there should not be any question about the transit character of Iran - Armenia.
Armenia has thrown it mask only since Russia fully removed the state debt of Armenia and loaded the budget by unprofitable Armenian enterprises, "Nezavisimaya Gazeta" emphasizes. Now Erevan does want to be a friend of Moscow. At the same time the EU (which up to 2000 actively opposed to trilateral Armenian-Iran-Russian gas consortium) allocated means for the construction of the gas pipeline. This promises total energetic independence from Russia not only to Europe, but also Turkmenistan and Ukraine. Moreover Erevan has promised that after the putting into operation of the gas pipeline to close the Armenian Atomic Station, which is managed now by the RAO "EES". The EU for a long time demands the closing of the AES, which produces up to 40% of electric energy for Armenia and works on the Russian nuclear fuel.
Thus, Armenia, which is considered the most reliable satellite of Russia in Transcaucasus realizes the thing that up to date USA has not been get from it - creates the gas exportation route from the Central Asia to the West alternative to the Russian one, the newspaper resumes.
However, probably these fears are exaggerated slightly and at least untimely, if to take into consideration that the idea of the Iran - Armenian gas pipeline is 10 years old, however it is not realized in any way while. Moreover, sometimes Erivan promises that the construction of the gas pipeline will start soon. Up to recent time both the countries could not agree in any way on price for gas, but at the last time the deal started to move from the dead point - as it likes. As the President of "ArmRosgazprom" has said, though tariffs for gas offered by Iran are higher than ones of the Russian "Gazprom" and IGC "Itera" Armenia should construct the gas pipeline from Iran.
Now money for the construction of the pipeline should be found out, though its length will not be so long - 141 km and cost about $120 MM. The EU may help also with this if only the next gas pipeline will end in Europe in perspective. However then expenses for laying such gigantic construction grow incomparably (we shall remember that it should pass else by the territory of Georgia and Ukraine and the bottom of the Black Sea).
Meanwhile, there is ready half of route for deliveries of the Iranian gas to Europe - through Turkey and Greece. As it is known, these two countries concluded the agreement on the construction of the connective gas pipeline, by which the Iranian gas delivering now to Turkey may be delivered through the Greek territory to Europe.
Moreover, already on March of the current year in Europe the company, which will study perspectives of the construction of the pipeline for delivering natural gas from Iran and Azerbaijan to Turkey was founded. The matter is moving quickly and the decision on start of the construction may be taken in this year already, internet-site RusEnergy informs. In a case of success the Russian "Gasprom" should stand closer and give a part of the European markets to rivals.
The project Nabucco became known still on October 2002 when several European countries decided to unite efforts on diversification of natural gas import. And on March 12 of this year the project has gained the official face: the partners signed the agreement about foundation of Nabucco Company Pipeline Study GmbH - the company with the Office in Vienna. This Company will be engaged in preparation for the feasibility report of the project.
The question is about the construction of the gas pipeline from Turkey to the Central Europe. Supposedly 20 - 30 bn cubic meters of gas will be delivered to Azerbaijan from Iran. The terms of the realization of the project have been fixed: it is planned to complete its FR in the current year already; it is planned to take a decision on the construction practically an once and the gas pipeline is put into operation in 2009. The cons of the project makes preliminarily 4.4 bn euro.
It is the greatest jump in comparison with initial plans, which were discussed by Turkey and Greece. On December of the past year these countries signed the agreement on gas route construction, which may deliver totally 500 MM cubic meters of gas annually since 2005. The pipeline by a length of 200 km should cost 250 MM evro for investors. The second stage of the project provides enlargement of the gas pipeline capacity up to 11 bn cubic meters annually, however rather larger volumes have appeared on the horizon.
MAXIMUM OIL PRODUCTION IN AZERBAIJAN SHALL TAKE PLACE EXPECTEDLY IN 2009
In accordance with forecasts of the Director of the Azerbaijan scientific-research institute "Gipromorneftegaz" Mr. Bagir Suleymanov, maximum of oil production in Azerbaijan will take place in 2009. Then 55 MM tons of oil annually may be produced. Natural gas production by a volume of 20 bn cubic meters will take place expectedly in 2011.
FOR THREE DAYS AZERBAIJAN HAS IMPORTED 12 BN CUBIC METERS OF GAS
As well he has informed that for the present 48 regions of Azerbaijan are supplied by gas, however payments for received fuel should be improved. Nevertheless, there is a certain progress in this trend. If in 2002 gathering of payments for delivered gas made 48%, but in the past year it has grown up to 53% and for two months of the current year made 64%. 100% payments for gas deliveries were fixed in Geychay, Khanlar, Gabala, Ter-Ter and Zakatal regions. And in Neftechala, Siazan regions and town Ali-Bayramli payment makes less than 50%.
THE PAYMENTS OF "AZERIGAZ" TO THE STATE BUDGET IN 2003 MADE 40 BN MANATS
By his words, besides of this, redemptions of credits were carried out. So the WB received $5.9 MM and else $1.6 MM will be pay out. Moreover, $1.2 MM was paid out to the Japan Bank of the International Cooperation on redemption of interest rates. Else $800 thou will be pay out supposedly.
The agreement on rehabilitation of gas economy with the WB was signed on September of 1996. 24.6 MM dollars were allocated for its realization and credit of the WB made $20.2 MM within frameworks of them. JBIC allocated credit by approximately $100 MM for the construction of the gas pipeline of highest pressure Garadag-Digaykh-SREPS "Severnaya".
ELSE 16 THOU GAS COUNTERS WERE HAVE BEEN INSTALLED IN BAKU
By his words, in the capital of Azerbaijan 470 thou clients consume gas. Only 47 thou of them were supplied by the gas counters up to recent time. We shall note that the counters for the population are installed in account of "Azerigaz" free of charge. Further the JC intends to supply all houses and flats of the capital by these installations and a work in this trend is conducted already.
Mr. A. Melikov has noted that the installing of counters will adjust problems of gas consumption. If now some clients confirm that they have not gas in their flats and they do not intend to pay out for it, the official of "Azerigaz" should be called and make relevant act and certify a truth of compliance. After installing of counters there will not a necessity in this. Moreover, after installation of counters the conduction of inventory of gas devices in the flats will not be required, as total gas will pass through the counter before delivering to a flat.
Purchasing of gas counters by a total number of 55 thou was carried out within frameworks of the project of the World Bank "Rehabilitation of Gas Economy of Azerbaijan". The agreement was signed on September 1996. The term of the realization makes five years. The total cost makes 24.5 MM dollars and the credit of the WB has made 20.2 MM dollars. The given project should be completed on December 31 of 2001. However "Azerigaz" managed to save $6MM within frameworks of this program and the project was prolonged else by 18 months.
THE CABINET OF AZERBAIJAN HAS ALLOWED CONSUMPTION OF NATURAL GAS IN SEED-BEDS
By his words, this order has given an opportunity to conclude agreements with owners of seedbeds for gas deliveries. And the government has established the sale price for cubic meter by a total of 236 manats (4925 manats - $1). Moreover, Mr. A. Melikov has noted that this price is high enough. So officials of the JC visit to owners of seedbeds and study whether they are agreed on conclusion of agreements on these conditions. Gas deliveries to those, who refuses will be stopped.
1.5 thou seedbeds are in suburbs of Baku. By opinion of the specialists of the JC, each one consumes daily norm of 50 - 60 flats. After conclusion of agreements with owners of seedbeds, an estimate will be made up and as well as necessary limit of gas for each suburbs of the capital.
ABOUT $1 BN WILL BE REQUIRED FOR THE PROGRAM OF THE DEVELOPMENT OF THE ELECTRIC ENERGY FIELD OF AZERBAIJAN UP TO 2010
As the press service of the JC "Azerenerji" informs, these means will be supposedly spent for the construction of new electric power stations, substations, high-voltage electric power transmission lines. The construction of the EPS by a capacity of 400 MWt on the North of the country and as well as in Ali-Bayramli on the territory of existing station by a capacity of 1000 MWt are amidst perspective projects. As well projects of the construction of the second steaming gas installation (SGI) on the Baku SREPS "Severnay" and SGI in Sumgayit are on the agenda.
International Financing organizations have allocated above $400 MM to the JC "Azerenerji" for a realization of energetic projects. They were transferred for the construction of the steaming gas installation on the SREPS "Severnay", the reconstruction of Mingechavir HEPS, completion of the construction of Enikend HEPS and modernization of transmitting infrastructure.
THE MINISTRIES OF ENERGY FROM 10 COUNTRIES OF THE CIS WILL MEET IN BRUSSELS
As it has been informed in the coordination Bureau of the Program of The Technical Assistance of the EU to Azerbaijan, the Ministries of Energy of Azerbaijan, Belarus, Georgia, Armenia, Kazakhstan, Kirgizstan, Moldova, Turkmenistan, Ukraine and Uzbekistan will take part in the meeting. The Ministries will discuss new trends of development of the Program INOGATE and the European Commission will present a new initiative of neighbor states to participants for enlarging of the further cooperation in the energetic sector.
By results of the meeting the signing of Memorandum on Mutual Understanding between the EC and countries-partners of INOGATE on the realization of the Program of Activities of INOGATE for 2004.
The program of actions of the INOGATE for 2004 - 2006 mainly is directed to the cooperation with the international finance organizations and private investors on attraction of investments to the main projects of oil and gas sector.
At the same time the program INOGATE has presented initiative of conduction of "round table". "The investment opportunities of the CIS in oil and gas sector", which as well as will be held in Brussels on March 31. "The round table has given an opportunity to the countries of the CIS to present their most important investment projects in the energetic sector to the international finance organizations and leading European banks and will be directed to attraction of investments for realization of these projects.
During "the round table" the officials of leading state oil and gas companies of Azerbaijan, Armenia, Georgia, Kirgizstan and Ukraine will present 11 projects thus inviting to the open dialogue with the potential investors. At the same time the Azerbaijan side will present 2 projects - rehabilitation of Kalmas and Garadag underwater gas storages with a total cost by 28.2 MM evro and rehabilitation of the transit gas pipeline network by a total of 155 MM evro.
At given meeting Georgia presents 3 projects - "Rehabilitation of Gas-Measuring Stations of Georgia" (3.025 MM evro), "Rehabilitation of Main Oil Pipelines System of Georgia" (29.8 MM evro) and "The Construction of the Underground storage of gas in Georgia" (93 MM evro).
Ukraine will present 2 projects - on the transportation of oil by a route Odessa - Brodi - Plotsk (450 MM evro) and improvement of safety of the Russian gas deliveries to Europe ($185.5 MM).
TWO SCENERIES BY THE OPEC
By his words, three possible sceneries of forthcoming decision will be presented for consideration:
-The version of reduction of official oil deliveries since April 1 by 1 MM bbl/day as it has been planned on February 10 in Algeria;
-The version of keeping deliveries on existing level and postponing the planned reduction of oil production
-The version of increasing of oil deliveries.
The decision of the OPEC will depend in many features from data of the monitoring committee on state and possible perspectives of the world oil market, the President of cartel has said.
Mr. P. Yusgiantoro has noted as well that for a long keeping of highest prices for oil, the countries of the OPEC may radically revise principles of their strategy of oil deliveries as some members of cartel insist.
We shall remind that the average cost of oil on the world market expressed through "the basket" of the OPEC already for 77 days is kept higher upper level of established ranges in 22 - 28 dollars for a barrel.
On the day before it became known that the OPEC intends to introduce the new formula of calculation of the price basket and corridor, when instead of the US dollar a number of the world currencies will be introduced. The high-ranked officials of Qatar and Venezuela have declared about this. The sources give and opportunity for understanding that a new price at the same time with the US dollar will be calculated taking rates of evro and the Japanese yens and possibly the Chinese Yuan into consideration, In such way the OPEC intends to reduce negative after-effects of real devaluation of dollar and drop of the own incomes from the oil export.
