Ukraine: government to set up Trunk Gas Pipelines by September 2016

The Cabinet of Ministers has decided to create PJSC Trunk Gas Pipelines of Ukraine within the management of the Energy and Coal Industry Ministry of Ukraine by September 1

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Azerbaijan: SOCAR drilling new wells at three fields

Azerbaijan’s state oil company SOCAR will additionally produce about 5,480 tons of oil per year thanks to the commissioning of three new wells, which are being drilled at offshore fields Pirallahi-deniz and Darwin Bank, as well as the Saadan onshore field, SOCAR said

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Belarus: major light industry enterprises to merge into holding companies

It is necessary to create holding companies out of major light industry enterprises. Deputy Prime Minister of Belarus Vladimir Semashko gave the relevant instructions to top officials of the Belarusian light industry concern Bellegprom, the concern’s press service reported

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Kazakhstan: Nazarbayev and Bozumbayev discuss expansion of production capacities of Tengiz field

Head of State Nursultan Nazarbayev held a meeting with Minister of Energy Kanat Bozumbayev. Bozumbayev informed the President of the key indicators of development of oil and gas, petrochemical and energy sectors and about the plans on the work for the nearest future

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Azerbaijan and Iran to connect banking card network

Nationals of Iran and Azerbaijan will be able to use their bank cards in the two countries’ territories once Iranian banks connect to the national card payments network created by Azerbaijan’s Central Bank

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Belarus: Turkish joint venture to make soft furniture

Plans have been made to set up a Belarusian-Turkish joint venture to make soft furniture at premises of the Molodechno-based furniture maker ZAO Molodechnomebel, Ruzhena Novitskaya, Press Secretary of the Belarusian timber, woodworking, pulp and paper industry concern Bellesbumprom, reported

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Kyrgyzstan: investments up in January-July 2016

Volume of investments in Kyrgyzstan has grown since the beginning of the year, the National Statistical Committee reported. The volume of investment in fixed assets in January-July amounted to more than 47 billion soms, up by 4

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Uzbekistan: Uzpromstroybank allocates 571 billion soums of loans to entrepreneurs

Joint-stock commercial bank “Uzpromstroybank” is one of the largest financial institutions of the Republic. The bank serves more than one million legal entities and individuals, providing them with various types of banking services

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Uzbekistan considering trade-economic relations with France

On August 11, Ambassador Extraordinary and Plenipotentiary of France to the Republic of Uzbekistan Jacques-Henri Heuls paid a visit to the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan

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Tajikistan: Transport Ministry to get local companies to participate in implementation of investment projects

The Minister of Transport Sherali Ganjalzoda held a working meeting to discuss the progress of implementation of the national investment transportation development projects

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Azerbaijan: oil sector up in January-July 2016

Azerbaijan’s GDP amounted to almost 32.12 billion manats in January-July 2016, down by 3% YoY, according to a report of the State Statistics Committee

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Tajikistan: Somon air launches new air routes to Russia

Tajik private airline, Somon Air, announces the launch of new air routes to the Russian Federation. Somon Air has launched air routes from Dushanbe to Novosibirsk and Sochi

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Uzbekistan: S&P affirms Turonbank’s rating with stable outlook

Measures undertaken in the country to strengthen the financial stability of commercial banks have a positive effect on their assessment by international rating agencies in terms of creditworthiness

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Uzbekistan: Qishloq Qurilish Bank introduces two new types of deposit

Joint Stock Commercial Bank “Qishloq Qurilish Bank” is actively working to attract free money resources of the population to deposits

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Turkmenistan: number of joint-stock companies increasing

Turkmenistan attaches great importance to the creation of joint-stock companies as part of the comprehensive measures carried out in the country for transition to the market economy

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Kazakhstan: new gas chemical complex to be built

Kazakh United Chemical Company will build integrated gas chemical complex in Atyrau region, Kazakh Wealth Fund Samruk-Kazyna reported. The complex will process gas from Tengiz field and produce polyethylene, which is widely used in construction, medicine, engineering, the packaging industry, household goods manufacture, etc

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Tajikistan: high-level conference on the Nurek HPP modernization project held in Dushanbe

A high-level conference on the Nurek HPP modernization project took place in Dushanbe on August 12. The conference reportedly focused on issues related to coordination of activities of partners on attraction of investments for modernization of the Nurek hydroelectric power plant (HPP)

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Azerbaijan: Bulgarian energy and economy ministers to visit Baku

Bulgaria’s Energy Minister Temenuzhka Petkova and Economy Minister Bojidar Loukarsky will visit Baku on September 29-30, to take part in the 4th session of the intergovernmental economic cooperation commission

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Kyrgyzstan: budget for 2017 focused on export support

“The budget of Kyrgyzstan for 2017 focuses on export,” the head of the Department of Finance and Credit Policy of the government Aziz Aaliev said

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Belarus: mini TPP to be built in Volkovysk

A mini thermal power plant worth $8.82 million burning locally available fuel will be built in Volkovysk (Grodno Region) at the expense of credit resources provided by the International Bank for Reconstruction and Development, the Energy Ministry of Belarus reported

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Belarus: stepwise action to create single pharmaceutical market in EEU suggested

Belarus suggests taking stepwise action to create the single pharmaceutical market in the Eurasian Economic Union, Belarus’ Prime Minister Andrei Kobyakov said when speaking at an expanded-participation meeting of the Eurasian Intergovernmental Council in Sochi

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Belarus to cooperate with Moldova in seed production

Belarus and Moldova will intensify cooperation in seed production, the Ministry of Agriculture of the Republic of Moldova reported. The matter was discussed during a meeting between Moldova’s Minister of Agriculture and Food Industry Eduard Grama and Director General of the Research and Practical Center for Arable Farming of Belarus’ National Academy of Sciences Fyodor Privalov and Director of the Polesye Crop Institute Leonid Shimansky

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Belarus to invest into Cherepovets-based machine-building cluster

As much as 750 million Russian rubles (RUB) will be poured into the Russian-Belarusian machine-building cluster based in Russia’s Cherepovets in the next decade, reads a message posted on the official web site of the governor of Russia’s Vologda Region

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Belarus: exports of oil products down in H1 2016

Belarus’ exports of oil products dropped by 1% YoY in January-June to 8.86 million tons, Belstat said in a report. In value terms, Belarus’ exports of petroleum products decreased by 35%, to $2

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Belarus: Grodno Azot to invest $9.6 million in development

Belarus’ chemical company OAO Grodno Azot has earmarked $9.6 million in the upgrade of air separation facilities at the methanol plant, a source in the profile ministry reported

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Belarus: oil product exports to Ukraine up in H1 2016

In January-June Belarus exported 2.25 million tons of oil products to Ukraine, up by 64% YoY, a source in the relevant ministry reported. Belarus’ proceeds from exports of petroleum products to Ukraine grew by only 4% YoY, to $823

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Azerbaijan: SOCAR to drill 11 more wells in 2016

Azneft production association of Azerbaijan’s state oil company SOCAR plans to drill 11 new wells by the year end at the Gunashli and Chilov offshore fields, said a SOCAR message posted on its website

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Kyrgyzstan: 50,000 tons of Tash-Kumyr coal to be purchased for Bishkek HPP

At least 50,000 tons of Tash-Kumyr coal valued at 137.5 million soms will be purchased for Bishkek HPP, Electric Stations JSC reported. The company announced another tender for the purchase of fuel

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Azerbaijan: AZAL to expand co-op with Turkish Airlines

National air carriers of Azerbaijan and Turkey are satisfied with the level of the current cooperation and intend to further expand it, said the Vice President of Azerbaijan Airlines CJSC (AZAL) Eldar Hajiyev

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Belarus: foreign investment in economy at $4.7 billion in H1 2016

In January-June foreign investors injected $4.7 billion into the Belarusian economy, the National Statistics Committee informed. The primary investors were economic operators of Russia (50

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