Articles for 23.07.2008 » Caspian Partnership for the Future

GAZ DE FRANCE NOT ALLOWED TO NABUCCO

The candidacy of French energy company Gaz de France as a seventh member of the consortium on the project of construction of Nabucco gas pipeline, was canceled, the press service of the French company said to TrendCapital by telephone.
The press service of Gaz de France did not divulge the reasons for canceling company’s candidacy. The managing director of Nabucco Gas Pipeline International Reinhardt Mitchell was not available for comments.
The participants of Nabucco include the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE. Each of the participants holds equal shares – 16.67% each. Nabucco project worth $12.4bln is expected to deliver gas from Azerbaijan and Central Asia to EU by 2013.

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GERMANY WILLING TO ITS REDUCE ENERGY DEPENDENCE ON RUSSIA WITH HELP OF AFRICA

Germany intends to import a gas from Algeria in order to reduce its dependence from the supply of hydrocarbon from Russia, the international analysts interviewed by TrendCapital said.
Last week, during his first official visit to Algeria the German chancellor Angela Merkel expressed Germany’s wish to enhance cooperation with the North African state in the sphere of gas. Merkel said during the meeting with President of Algeria Abdelaziz Bouteflika that his state is the third largest gas supplier to Europe; however Germany does not purchase Algerian gas. The national oil and gas company of Algeria Sonatrach is one of the large gas suppliers to Europe.
According to the German political expert and director of Russia and CIS program of the Foreign Policy Council of Germany Alexander Rar, Germany is looking for an alternative for the Russian gas.

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IMF FORECASTS CUT IN WORLD ECONOMY’S GROWTH RATE

Growth rate of the world economy will reduce from 5% in 2007 to 4.1% in 2008, as well as, and further to 3.9% in 2009, the International Monetary Fund’s (IMF) report on Development prospects of the world economy said.
According to the IMF’s forecasts, the growth rate in the United States will reduce to 1.3% on the average annual basis in 2008.

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