Play of the week, ST, Sat, May 25, 2013
.. It is added that Keppel may benefit from having a shipyard in Azerbaijan as it is reportedly close to signing a contract with Socar, an oil and natural gas firm owned by Azerbaijan, for a semi-submersible rig worth between US$700m - US$800m.
BAKU, May 22 (Reuters) - Azeri state energy firm SOCAR plans
to borrow more than $20 billion over the next five years to
finance energy projects to help boost gas exports to Europe, a
challenge to plans by neighbouring Russia.
SOCAR, one of the world's oldest oil companies, wants to
send gas to Europe, hoping to capitalise on a desire in European
capitals to diversify their supply from Russia after Moscow's
"gas wars" with Ukraine disrupted supplies in 2006 and 2009.
The plan to tap its Shah-Deniz II project for an expected 16
billion cubic metres per year (bcm/y) ......