Carnelutti Russia

Newsletter Central Asia and the Caucasus May 2022

A multifunctional technology center, which will be the first building in the region to meet the BOMA A Class construction standard, will be built in Yerevan with investments totaling 110 MLN Usd, Enterprise Armenia reports. Construction on one of the most significant investment projects coordinated by Enterprise Armenia, the Dalan Technology Center, will launch in June 2022, and the building will be commissioned in 2026.
Azerbaijan has the potential to install 7 GW of offshore wind power by 2040, according to a new roadmap released today by the Ministry of Energy of the Republic of Azerbaijan, the World Bank, and the International Finance Corporation (IFC). The roadmap states that this can be achieved with the right long-term vision, infrastructure development, investment, and policies, which could play an essential role in achieving the country’s parallel decarbonization and sustainable growth priorities.
The Baku-Tbilisi-Ceyhan (BTC) oil pipeline that takes the Azerbaijani oil to Europe via Turkey exported about 6.7 million tons of crude oil in the first quarter of 2022, the pipeline’s operator BP Azerbaijan has said in its recent report. Overall, BTC exported over 509 million tons of crude oil loaded on 5,007 tankers to the world markets since the pipeline was operational in June 2006 until the end of the first quarter of 2022.
Kazakhstan ramps up power consumption reporting requirements for crypto miners. Cryptocurrency mining companies will be required to submit comprehensive information about their operations as the country tries to reign in electricity consumption. The government of Kazakhstan has laid out new reporting requirements for cryptocurrency mining operators with a keen eye on how the industry’s energy usage affects the local power grid.

Russian retailers are in talks to import goods via Kazakhstan. Magnit and Lenta are negotiating with their suppliers and other parties about importing goods via Kazakhstan. Working through intermediary companies in Kazakhstan could, in theory, allow Russian retailers to resolve some issues caused by sanctions, such as making payments in foreign currency.
European Investment Bank (EIB) is ready to open a Central Asian regional office in Kyrgyzstan, Trend reports citing the press service of the Ministry of Economy of Kyrgyzstan. The bank's mission briefed the delegation on bilateral financial and technical cooperation opportunities, emphasizing that the EIB's conditions are the most competitive in the world market.
Last week Uzbek officials hosted their Tajik counterparts to thrash out details on the two hydropower projects Tashkent hopes to build upstream from Samarkand, on Tajikistan’s Zarafshan River. The two sides are even talking about the 550 MLN Usd project underscores profound changes over the past three years. Before that, the neighbors hardly spoke – and hardly traded.
President of Turkmenistan, Serdar Berdimuhamedov, instructed to increase the volume of oil and natural gas production and processing by identifying new promising fields and formations, as well as modernizing existing ones, Trend reports via the State News Agency of Turkmenistan.

Uzbekistan has restarted gas exports to China after halting them at the beginning of this year to meet domestic demand. The government did not announce the resumption of supplies. However, Chinese data show that Tashkent is again exporting gas through the Central Asia-China pipeline, which originates in Turkmenistan and passes through Uzbekistan and Kazakhstan. Uzbekistan exported 132.8 MLN Usd worth of gas to China in the first four months of this year, Russian energy website reported, citing statistics from the Chinese General Administration of Customs.