<"BP says little hydrocarbons in Georgia, but great gateway for Azer gas to Europe..">
Here is the statement I believe you're referring to, apparently attributed to Chris Schlueter, BP's Country Manager for Georgia"
"“Georgia has very much played its cards right in the region as far as attracting these pipeline developments. It is not a hydrocarbon-rich country itself. However, it is strategically positioned geopolitically and it has created and sustained the right business environment to encourage investments.”
Therefore, if he appears to suggest that Georgia has little indigenous hydrocarbons, I think he's probably just referring to actual proved reserved, and not necessarily the resource potential of the area.
Basically, once reserves are proven, and large scale field development is implemented, then he would be one of the people called on to manage the facilities, logistics, etc.
In other words, I wouldn't read too much into the hydrocarbon reference at this time, especially as it relates to FRR and Block 12. However, his statements on Georgia's strategic location and regional importance are certainly relevant.
Think I have a right to respond to any posts directed at me as for calling SN a MALAKA I'll retract that once I get my money that I invested back from the MALAKA. As for allegedly buying and selling, I've posted my trades for all to clearly see all in the name of transparency, unless you have a claim to them? I will continue to post what I believe relevant to this board as I am looking to buy back in once SN the MALAKA gives us the green light and assures us that he's got our interests at heart and isn't looking to screw us over. No need to filter me as I won't be posting until we get some sort of news.
P.S; I'll let you know when I buy back in then you'll have no choice but to read my BS fool
You've adopted the same trading double talk, wallpaper the BB bs, over the past two weeks that flightman did recently. Pre- advising selling 7 and a half million (allegedly) then claiming additional investment before purportedly selling out Friday lunchtime, and continuing to post even though you arent invested. Now reverting to AAA name calling of SN. You are no better than some of the other time wasting rinsers with no integrity on this BB. I fully expect to see more bs from you next week. Posting the same thing ten or more times a day is pure desperation. I'll watch for you next week before putting you on filter.
On a serious note I've had enough of the Jam tomorrow RNS's that SN has published stringing PI's along on the hope of multi bagging because we apparently have the 3rd largest gas field on the planet. We would have been bought out long ago if this was remotely true hence the wishy washy CPR last year. This year's CPR will probably be the same and I wait to be hopefully proved very wrong. I know it will cost me a few £££ to buy back in IF we get the news we are all waiting for but it's a risk I'm willing to take.
Rather stay in cash than invested in here without having a clue as to what on earth is going to happen come August. Anyone claiming to know better needs reminding of just how long I've been invested here. IF we get the results from Udabno that we are expecting I will buy back in because soon after that we should have the CPR booking RESERVES then an announcement relating to the CLN's. The above situation is the ideal situation but in reality we might just get more RNS's for further headroom shares for ongoing operations leading to further dilution. We only have another 500m shares left but after that what will happen is anyone's guess. Let's hope it's not further dilution in the form of a Restructure and Consolidation but as every day that goes by this looks more and more of a reality.
When Georgia joins the EU's energy community, gas suppliers cannot be majority shareholders of gas distribution facilities.
Georgia's joining Energy Community to affect SOCAR activities in country
April 30--Georgia's accession to the Energy Community will affect activities of the State Oil Company of Azerbaijan (SOCAR) in Georgia, the country's Deputy Energy Minister Mariam Valishvili told Trend.
Valishvili said that Georgia is currently holds talks regarding accession to the Energy Community, and in case of success the country must fulfill a number of requirements adopted within the framework of this organization. In particular, according to the rules of the Energy Community, gas suppliers cannot be majority shareholders of gas distribution facilities.
The Energy Community is an international organization dealing with energy policy. The organization was established by an international treaty in October 2005 in Athens, Greece. The Treaty entered into force in July 2006. The Treaty establishing the Energy Community brings together the European Union, on one hand, and countries from the South East Europe and Black Sea region. Georgia is a candidate country to join the community.
The deputy minister reminded that nowadays SOCAR is the main gas supplier on the Georgian market and at the same time is a distributor of gas. Therefore, in case of Georgia's joining the Energy Community, a restructuring will be needed for SOCAR subsidiaries engaged in gas distribution in Georgia, which has already begun, Valishvili said.
Also, Georgia's accession to the Energy Community will mean that SOCAR won't be able to claim a controlling stake in the new gas storage facility planned to be built in this country, Valishvili said. Earlier, a source in SOCAR told Trend that the company clearly intended to buy a stake in the gas storage, because the company considers it a strategic asset.
The beginning of construction of underground gas storage is planned for 2016. It will be possible to store 230-250 million cubic meters (mcm) of natural gas, accounting for 15 percent of the annual gas consumption in Georgia, after the completion of construction of the underground gas storage facility.
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