After the failure of Turkey’s apparently last-ditch effort to renegotiate the price for Russian gas, Turkish Energy Minister Taner Yildiz announced Turkey would not renew the supply contract through the “Western pipeline,” scheduled to expire at the end of the year. The contract was originally... MORE

In a last-minute reversal, Croatia has decided to request the European Commission’s opinion on legal amendments that would bar Hungarian MOL from acquiring more than 49 percent of ownership shares in Croatia’s oil and gas company, INA. The Croatian government’s September 29 meeting had been... MORE

Turkey has joined the growing ranks of claimants to revision of their contracts with Gazprom. On September 29, Turkish Energy Minister, Taner Yildiz, warned that Turkey would end a 25-year-old supply agreement with Gazprom, unless the latter reduces the price of gas. Taner issued this... MORE

Sino-Russian relations appear to be picking up the tempo with frequent high-level visits taking place in recent months. Last week, the top Chinese military officer, Vice Chairman of the Central Military Commission, Gen. Guo Boxiong, met with Russian Prime Minister Vladimir Putin and top Russian... MORE

Since coming to power in February 1999, Venezuelan president Hugo Chavez has waged a highly visible campaign against the U.S. and Western “imperialism” in Latin America, replete with fiery rhetoric, nationalization of strategic industries, the creation of alternative regional institutions, support for a range of... MORE

To reduce its dependence on expensive Russian natural gas, Ukraine proposes to import Azerbaijani liquefied natural gas (LNG) via Georgia and across the Black Sea to Ukraine. Recent gas discoveries in Azerbaijan, and the reactivation of the Turkmenistan-Azerbaijan gas pipeline project, encourage a growing number... MORE

Ukrainian President Viktor Yanukovych met with his Russian counterpart Dmitry Medvedev and Prime Minister Vladimir Putin near Moscow on September 24 in a last-ditch attempt to persuade the ruling tandem to lower gas prices for Ukraine. The officials involved have avoided saying anything specific about... MORE

Baku expects three gas transportation consortiums to submit competing bids by October for the gas production of Azerbaijan’s Shah Deniz field, Phase Two. The rival projects are Nabucco (Turkey-Bulgaria-Romania-Hungary-Austria, potentially reaching Germany), ITGI (Interconnector Turkey-Greece-Italy), and TAP (Trans-Adriatic Pipeline, linking Turkey via Greece and Albania... MORE

Amidst growing concerns about the escalation of Turkish-Israeli tensions in the Eastern Mediterranean, Ankara’s decision to undertake seismic exploration for oil and gas – in retaliation for the Greek Cypriot administration’s ongoing exploration activities – further raised tensions in the region. Recently, the Greek Cypriots... MORE

The last several months have been full of good news for the national oil company of Azerbaijan. As the country prepares to celebrate the anniversary of the “Contract of the Century” (the main oil contract signed in 1994 between Azerbaijan and a consortium of western... MORE