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Ashgabat (AFP) Nov 17, 2010 The leader of Turkmenistan on Wednesday touted growing energy ties with Iran and China but stayed silent on Europe's proposed Nabucco pipeline aimed at breaking Russia's grip on gas exports. President Gurbanguly Berdymukhamedov, in a written address at the opening of an annual conference in the capital Ashgabat, singled out ties with Tehran and Beijing while also praising a Turkmen-led pipeline project to India through neighbouring Afghanistan. Mention of cooperation with Europe, however, was notably absent from Berdymukhamedov's annual address to the Oil and Gas Turkmenistan conference -- closely watched as a bellweather for the opaque country's thinking. "Exporting natural gas to the Russian Federation, the People's Republic of China and the Islamic Republic of Iran, our country keeps pipeline modernisation activities at the centre of its attention," the statement said. "Furthermore, alongside conducting negotiations on the contruction of a gas pipeline in second direction to China, Turkmenistan spares no effort to launch construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline." Turkmenistan, an isolated but resource-rich Central Asian state located on the eastern shores of the Caspian Sea, is thought to hold the world's fourth largest reserves of natural gas. Ashgabat has been working to diversify away from its reliance on Soviet-era pipelines through Russia since a pipeline explosion in 2009 ground exports of Turkmen gas to a halt and soured ties with the Kremlin. At the height of the row with Russia last year, Berdymukhamedov pleased the crowd of mostly Western energy executives by throwing his weight behind the Nabucco pipeline project, a trans-Caspian pipeline to Europe aimed at breaking Moscow's stranglehold on Central Asian energy exports. But since then Ashgabat has opened a 7,000-kilometre natural gas pipeline to energy-hungry China and boosted exports to neighbouring Iran while progress on Nabucco has remained mired in diplomatic wrangling.
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Oil mixed on worries over China, Europe sovereign debtSingapore (AFP) Nov 17, 2010 Oil was mixed in Asian trade Wednesday amid investor concerns that China might again tighten monetary policy and worries over Europe's debt woes, analysts said. New York's main contract, light sweet crude for December delivery, rose slightly by three cents to 82.37 dollars a barrel. Brent North Sea crude for January delivery was off 13 cents to 84.60 dollars. Analysts from the Common ... read more |
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