Tagged: energy Toggle Comment Threads | Keyboard Shortcuts
The leaders of China and three Central Asian nations gathered Sunday in Turkmenistan ahead of a ceremony inaugurating natural gas deliveries from the energy-rich region to China.
The pipeline culminates Chinese efforts to secure energy supplies for its fast-growing economy. The route also will enable gas producers in the region to diversify their exports away from Russia, which has exercised a virtual stranglehold over Central Asian energy supplies since the collapse of the Soviet Union.
“This is a significant project of cooperation between two nations that will benefit all countries in the region,” Chinese leader Hu Jintao told reporters in the Turkmen capital, Ashgabat.
“All countries in the region” except Afghanistan.
johnpi, thabet, Conrad Barwa, and 1 other are discussing. Toggle Comments
China goes shopping in Africa again…
China National Offshore Oil Corp. is in talks with Ghana National Petroleum Corp. to make a bid for a stake in the Jubilee oilfield discovery that would rival Exxon Mobil Corp.’s $4 billion offer, the Wall Street Journal said, citing unnamed people familiar with the situation. A Chinese fund is in dicussions with Guinea on possible financing for infrastructure, minerals and oil projects, the Financial Times reported.
Nuclear power law signed:
The president of the energy-hungry United Arab Emirates has signed a law regulating the development of a civilian nuclear program, clearing the way for construction of a nuclear power plant with help from the United States.
Washington has promoted its plan to help the Emirates’ develop peaceful nuclear power as a model of the kind of cooperation it would like to achieve with Iran, which the U.S. and its allies suspect is using a civilian program as a cover to develop an atomic weapons capability.
The United Arab Emirates, which is just across the Persian Gulf from Iran, is among those Arab nations wary of Iran’s nuclear work.
Keefie Boy, a former Dubai-based blogger, says of this story:
I can understand his concerns, and, as a commentator at his blog notes, I half expect them to plonk the nuclear reactor on a man-made island!
I am also wondering how closely regulation of the UAE’s nuclear industry will resemble the way its hydrocarbon industry is run…
When future historians write about the seemingly inevitable conflict in Iraq between Arabs and Kurds, this sort of news report will form part of the evidence for build up in ethnic tensions:
Iraq has barred [China Petroleum & Chemical Corporation, aka Sinopec] from taking part in a second round of bidding for major oil deals over its purchase of a Swiss oil firm active in Iraq’s Kurdistan region, a top official said on Thursday.
Iraq’s Oil Ministry, which deems deals the largely autonomous Kurdish region signs with foreign oil firms illegal, had already threatened to blacklist Sinopec, China’s biggest oil refiner, for acquiring Addax Petroleum Corp.
This might be another sign that Qatar wants to offer an alternative to Saudi Arabia as a ‘big player’ in the region: Qatar signs a deal with Turkey.
Turkey has the same energy concerns as the EU: Russia’s virtual monopoly over gas into Europe. Of course, Turkey realises it is a geopolitical-energy hub, and alongside deals with Qatar, the EU, talk of one with Iraq, it has signed one with Russia too.
I’d expect any EU-Turkey-Iran deal on Nabucco, an anti-Russian pipeline project and an effort the US supports at the present time, to upset the anti-Iran hawks. India’s stalling on a pipeline from Iran through Pakistan suggests some pressure from the US. But India (and China, which is busy signing deals in Central Asia) would still have energy needs. Expect the conspiracy theorists to be given more grist for their mills, as the Trans-Afghanistan pipeline is resurrected (at least in the media — the engineering of such a pipeline is another story altogether).
Steve LeVine, however, says this sorts of pipeline politics is no longer valuable to the US; events, such as the Russia-Georgia War, China’s aggressive emergence in Central Asia and developments in technology, having overtaken their policy.
Sierra Leone and Ghana may just become another two countries with a resource curse:
Sierra Leone is one of the poorest states in the world and its neighbours to the south are not much better off. Oil production from Ghana’s Jubilee field is yet to ramp up, but the country is quite reasonably concerned that its oil wealth will turn it into yet another country ‘cursed’ by resources – it is not far away from Nigeria, after all, whose sizeable oil reserves have not exactly brought stability or prosperity for most of its people.
Speaking of West African nations ‘cursed’ with oil and mineral wealth: