Carnelutti Russia

Newsletter Central Asia and the Caucasus January 2023

Remote workers have the opportunity to relocate to Armenia. The Armenia digital nomad visa grants a one-year temporary residence permit. This permit gives the same opportunities as Armenian citizens and access to the national healthcare, education system, and more. The residence permit is renewable. After living in Armenia legally for three years, it is possible to apply for Armenian citizenship too.
Azeri state company SOCAR and Masdar to Jointly Develop 2 GW of Offshore Wind & Green Hydrogen Projects in Azerbaijan. Under a joint development agreement, signed in Abu Dhabi on 15 January within the framework of Azerbaijan's President Ilham Aliyev's business visit to the United Arab Emirates (UAE), SOCAR and Masdar will together develop offshore wind and hydrogen production projects totaling 2 GW in capacity. The two companies also signed joint development agreements on 1 GW of solar photovoltaic (PV) projects and 1 GW of onshore wind.

Azerbaijan is to produce over 600,000 barrels of oil per day in 2023. The US Energy Information Administration (EIA) has released its forecast on petroleum and other liquids production for 2023 and 2024.
The European Bank for Reconstruction and Development (EBRD) supports greener public transport development in Georgia. A sovereign loan of up to 50.6 Mln Euro will finance the rehabilitation and upgrade of up to 12 metro stations in Tbilisi. The financial package includes an investment grant of up to 5 Mln euros from the Green Climate Fund (GCF).
Confindustria Kazakhstan officially presented in Astana. The Italian ambassador Marco Alberti said that the headquarters of Confindustria enriches the Italian presence in the country. President Ernesto Ferlenghi will be supported by four vice presidents (Giovanni Capannelli - Asian Development Bank, Vittorio Majorana - Seingim, Marco Castagnini Kazakhstan New Technologies, Antonello Colussi - Danieli), the Director Livio Mazzuoccolo, and six other members including our Daniele Pascale.

EBRD supported Kazakhstan in establishing a legal framework for cross-border, over-the-counter (OTC) derivatives and repurchase agreement (repo) transactions enabling Kazakh businesses to hedge their currency exchange and interest-rate-related risks better. With almost 10.6 Bln Usd invested in the country through 304 projects, Kazakhstan is the EBRD's most extensive and longest-running banking operation in Central Asia.
The Uzbekistan railway construction coordination office was opened in Bishkek. Earlier, the head of the Kyrgyz Republic, Sadyr Japarov, reported that in April, the PRC Design and Survey Institute should submit documents to the republic. Construction will cost from 3 to 5 Bln USD.
Uzbekistan and Tajikistan agreed to build a hydropower station with a total capacity of 320 MW in the Zarafshan river basin. It is reportedly planned to build hydroelectric power stations: firstly, the 282 Mln Usd Yavan hydroelectric power station project with a capacity of 140 MW and generating 700-800 million kWh of electricity.
Uzbekistan and Turkmenistan agreed to establish joint car production. The parties are considering the prospects for the resumption of flights and opening the combined output of cars. They also thought about the options for using the infrastructure of the international seaport in the city of Turkmenbashi and other areas of cooperation designed to strengthen the transport connectivity of the countries.

One of the oldest transport and logistics Russian companies Sovfrakht is ready to take part in setting up a freight service with Turkmen ports. Sovfrakht notes that regular connectivity between the ports of Russia and Turkmenistan will reduce the delivery time of goods and increase trade turnover between the countries.
Uzbekistan and Gazprom sign a roadmap for cooperation in the gas industry. Minister of Energy of the Republic of Uzbekistan Jurabek Mirzamakhmudov and Chairman of the Board of PJSC Gazprom Alexey Miller held a working meeting.

Uzbekneftegaz plans to buy oil from Petronas Çаrigali of Turkmenistan this year. This issue was discussed at the meeting held in Tashkent between the management of Uzbekneftegaz JSC and the delegation of Petronas Çаrigali. The parties agreed to prepare a delivery program.