The Perils of bypassing Russia ? 'Turkmenistan Takes Sides in Pipeline Supply Competition'

While Russia has stated that its state-owned gas giant Gazprom would participate in a trans-Afghan pipeline with Turkmenistan, Turkmen officials have denied the same. This comes after a rather disappointing meeting in Ashgabat between Russian President Dmitry Medvedev and his Turkmen counterpart Gurbanguly Berdymukhamedov, in which Moscow came away empty handed.

 

Analytical Note: Turkmenistan has played coy with Russia, with the Turkmen president issuing a very general and vague statement during Medvedev's visit: "Russian and Turkmenistan have mutual interest in partnership development. Our relationship is noted for stability and mutual understanding on fundamental issues."

 

That, however, does not mean a new deal with Gazprom, and responding to Russia's statement to that effect, the Turkmen Foreign Ministry said: "Turkmenistan will continue to raise the significance of Europe-bound projects in its energy policy and will independently choose partners." Furthermore, the statement read: "Turkmenistan views the published remarks as an attempt to interfere in the normal course of international energy relations."

 

The misunderstanding revolves around two main competing pipelines: the European-backed Nabucco pipeline and the Russian-backed South Stream pipeline, both vying for Turkmen gas.

 

Recently, the Nabucco pipeline consortium announced that it would seek to be supplied by natural gas from Iraq, Azerbaijan, and Turkmenistan, which would be transported through Turkey, bypassing Russia. Russian officials responded to this announcement by saying that Russia's Nord Stream and South Stream pipelines would be operational before Nabucco, and hence particularly Azeri and Turkmen gas supplies would it first, rendering Nabucco redundant. 

 

"Given the estimates of the Turkmen side, as well as European and international experts, the current market situation on the gas track allows us to say - and I say so without sarcasm - that there are no prospects for Nabucco," Russia's RIA Novosti quoted the Russian deputy prime minister as saying.

 

It appears, however, that Turkmenistan sees things differently, and the statement from its Foreign Ministry clearly backs supplying the Nabucco pipeline.

 

By. Jen Alic of the Global Intelligence Report

 

Source: http://www.globalintelligencereport.com/categories/Professional-Level-1

 

The global Intelligence Report is a Private news & Intelligence service for sophisticated news consumers, investors and energy market participants. To find out more please visit: http://www.globalintelligencereport.com/categories/Professional-Level-1

 

 

 

 

 

 

RBS Employee 'Blows whistle on Upcoming Layoff and Lame Management'

http://read.bi/cjLEhp

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Nasdaq serves up Twitter stock buzz on iPhone

Nasdaq has released an iPhone app that enables users to track the performance of their portfolio, access share price information and search for the latest tweets on particular stocks.

The QFolio App is designed for the average novice investor to the active trader, says Nasdaq. It offers access to real-time pre-market, regular session and after hours trading data alongside a stock search facility.

Users can monitor the performance of their portfolio and set up watch lists to track particular stocks of interest.

The app also comes with a built-in StockTwits feature for users to drill down into the real-time Twitter buzz on particular stocks.

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Titanium Resources Group: Dredge D2 Insurance Update

http://boullevortal.com/cgi-bin/news.cgi?rm=display&articleID=1254736629

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Dredge D2 Insurance Update

5 October 2009: Titanium Resources Group Ltd (“TRG” or “the Company”) announces an update with regard to TRG and its subsidiary Sierra Rutile Limited’s (“SRL”) legal action against insurers over its outstanding claims relating to the capsize of Dredge D2.

 

SRL’s legal action is continuing and has recently been set down for a 4 week trial commencing on 28 June 2010 in the Commercial Court, a division of the High Court in London.  On the current timetable, trial would therefore be completed by 23 July 2010, with judgment likely to be reserved at the end of the hearing and handed down at the Court's convenience thereafter. 

 

The Court has directed the parties (as part of the pre-trial timetable) to seek to resolve their disputes by mediation, a structured without prejudice settlement discussion, such mediation to take place before 29 January 2010.

 

One of the main reinsurers has already settled its share of the claim. 

ENDS

For further information: 

Titanium Resources Limited

John Sisay, Chief Executive 

Walter Kansteiner, Non-executive Chairman 

Tel: +44 (0) 207 321 0000 

Arbuthnot Securities 

Nominated Adviser & Broker

John Prior 

Tel: +44 (0) 20 7012 2000

Aura Financial

Michael Oke / Andy Mills

Tel: +44 (0) 207 321 0000 

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Investors Europe Stock Brokers, Gibraltar NEWS: Exchanges warn G20 of dangers in 'dark pools'

http://link.ft.com/r/NA70KK/TS11Q/W8MA9/TJJDP/2LI9W/D5/t Exchanges warn G20 of dangers in 'dark pools'
The world's stock and derivatives exchanges warned the Group of 20 leaders that the continued 'proper functioning' of their markets could not be taken for granted because of a proliferation of alternative trading venues such as 'dark pools' Read more >>