Economy

page 1081

  This autumn, ferry routes between Georgia, Ukraine and Bulgaria are to change. Cargo delivered via the Odessa, Lvov and South-Western Ukrainian railways will be transported on the Ilchevsk-Batumi route, while those delivered via the Southern, Pridneprovskaya and Donetskaya Ukrainian railways will go on the Kerch-Poti route.

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The Interior Minister of Kabardino-Balkaria, Yuri Tomchak, called for solving the issue of financing the security of Nalchik's airport or cancel its status as an international airport, RIA Novosti reports, citing the press-service of the Interior Ministry. The airport has not been financing security due to financial problems for four years. The Baksan hydro electric plant also cited a lack of funds, but right after the recent terrorist attack it declared its readiness to spend additional sums on security.

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Almost all of Georgia has been left without electricity after the ‘Kartli-2’ power line was damaged, RIA Novosti reports, citing a spokeswoman of the press-service of the state energy company of Georgia. Energy will be restored very soon, she said.

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Chechnya will present some 35 investment projects worth 175 billion rubles at the 9th International Investment Forum in Sochi to be held on September 16-19, Minister of Economic Development and Trade Abdulla Magomadov said, RIA Novosti reports. The forum will see projects of hydro energetic resources on the Argun river, the construction of a sport complex, construction of a shoe factory producing 2.2 million pairs of shoes annually, and the construction of leather making enterprises.

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Albania's neighbours expressed the readiness to build a branch of the planned ‘South Stream’ gas pipeline to the Albanian port Vler, RIA Novosti reports, citing Reuters and Albanian Premier Sali Berisha. The ‘South Stream’ project involves constructing a 900 km gas pipeline from Novorossiysk to Bulgarian port Varnu. It was initiated by Russia and Italy. It will be used to transport 63 billion cubic m annually and will provide 35% of Russian gas supplies to Europe.

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Georgian Minister of Agriculture Bakur Kvezereli said that the government is searching for new wheat importers for Georgia to minimize price rises for bread products, News Georgia reports. Georgian President Mikhail Saakashvili visited a supermarket last evening, together with Premier Nika Gilauri and Minister Kvezereli, and ordered the government to diversify wheat supplies to Georgia.

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TheAzerbaijani government has decided on its guarantees and obligations with regard to the development of oil on the land block of the field ‘Balakhany-Sabunchi-Ramany’ and Kiurdakhany, 1news.az reports. Azerbaijan has approved the obligations of the agreement between the State Oil Company of Azerbaijan (SOCAR) and UQE-Lanser PTI. LTD. Signed on June 3rd 2010.

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Gazprom has doubled gas supplies to Turkey through Blue Stream to 37 million cubic m daily, due to an explosion at a gas pipeline coming from Iran, RIA Novosti reports, citing an official spokesman of Gazprom, Sergey Kupriyanov. The explosion happened on August 25th at the gas pipeline of the Turkish Agra, which supplies Turkey with gas from Iran. Another reason for increased gas supplies is the restoration of Turkish economy after the world recession.

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The Georgian government and the International Transport Union have signed a memorandum of understanding and cooperation, providing an international corridor via Georgia, reports Business Georgia. The memorandum helps to raise Georgia's competitive capacity and attract large cargo volumes from the Russian and Iranian international corridors, Georgian Prime-Minister Nika Gilauri claimed.

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The Iranian Minister of Industry and Mines, Ali Akbar Mehrabiyan, arrived in Venezuela to participate in the opening ceremony of the Iranian trade and manufacturing exhibition, reports IranNews. Over 30 companies are due to present their products. The exhibition will continue until the 30th of August.

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On Wednesday evening Georgian President Mikhail Saakashvili, accompanied by Premier Nikoloz Gilauri and Agriculture Minister Bakur Kvezereli, visited a shop in Tbilisi, reports Business Georgia. The President was interested in price increases. The price of bread has risen by 10% because of bad crops in exporting countries and the Russian embargo. Saakashvili ordered diversification of grain supplies to the country. Besides bread, sunflower oil and sugar prices have also risen.

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 The gas supplies from Iran to Turkey have been stopped due to “technical problems on Turkish territory”. The Iranian National Gas Company is ready to continue supplies when the problems are solved, reports APA. An explosion occured on the 23rd of August at the pipeline on the territory of the Turkish province of Argi. Repair works have already begun.

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Iran proposes that Russia create a nuclear consortium in order to supply the Bushehr Power Plant and future nuclear plants with nuclear fuel, claimed the head of the Iranian Atomic Energy Organization, Ali Akbar Salehi, reports Trend. Iran does not intend to produce the majority of nuclear fuel on Iranian territory, he added.

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 Armenia should buy out the sector of pipeline supplying Russian gas to the country, claimed the ex-Premier of Armenia, Grant Bagratyan, commenting on the information about Azerbaijan's intention to purchase the Georgian sector of the North-South pipeline. He called this a challenge with unfavourable consequences, because Armenia would then depend on decisions from Azerbaijan.

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 The volume of petrol production will be raised to 5.3 million gallons a day and Iran won't depend on petrol imports, claimed the Iranian Oil Minister Masoud Mirkazemi, reports RBK, citing the Associated Press. Iran is second in global oil extraction among OPEC member-states.

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 Ukraine, Azerbaijan and Turkey have become the major foreign trade partners of Georgia in the first six months of 2010, reports RBK, citing the Georgian National Statistical Service. Turkey accounts for 16.7% of Georgia's foreign trade turnover, with Azerbaijan and Ukraine accounting for 10.5% and 9.7% respectively.

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The Georgian government has provided approximately $3 million as subsidies for grape harvesting, the head of the rtveli-2010 coordination headquarters, Tariel Gabuniya, told Kakheti information center. He said that the finances will be used for voucherization and financing of other organizational issues, Georgia Online reports. Vouchers will be given to wine factories that buy grapes from farmers. Rtveli in Kakheti will start in approximately 2-3 days, Gabuniya said.

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France approved the launching of the reactor of the nuclear power plant in Bushehr, French President Nicolas Sarkozy said at the 18th conference of French ambassadors at the Elysee Palace, RIA Novosti reports. Even before the launch the French Foreign Ministry said that Russian supplies of fuel to Iran is another reason why Iran should shut down its nuclear program.On August 21st the fuel was put into the reactor, 36 years after the start of construction. The next stage is energy production.

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New signs of uranium reserves in Iran have been found, the head of the Organization of Atomic Energy of Iran Ali Akbar Salekhi said, Trend reports, citing Iranian news agency MEHR.One third of the country's territory was explored for uranium. The government issued finances to the national atomic energy organization for the search. Iran will cover its demand for uranium for 8 years.

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