EU moves closer to realizing Trans-Caspian gas pipeline

(firstenercastfinancial) -- A pipeline carrying Turkmen natural gas across the Caspian Sea for delivery to Europe will move closer to realization, as the involved parties are preparing to sign agreements later this year, Azerbaijan's Energy Minister Natiq Aliyev said Wednesday.

The European Union is preparing two documents together with Turkmenistan and Azerbaijan that will allow Europe to take natural gas from Turkmenistan and other Central Asian countries, said Aliyev.

Securing gas supplies from Turkmenistan has become a priority for the EU, as it promotes what it calls the Southern Corridor for Caspian gas transit to Europe in an attempt to lower the union's dependence on Russian gas supplies.

The two documents--an inter-governmental agreement and a political document to support the Southern Corridor--will be ready for signing later this year, Aliyev said. The proposed pipeline, which has been discussed for over a decade, will stretch 300 kilometers from Turkmenistan across the Caspian Sea to Azerbaijan.

Last September, the EU Council gave a mandate for negotiations between the EU, Azerbaijan and Turkmenistan to build the Trans-Caspian pipeline.
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Yara to build Australia explosives plant with partners

(Reuters) - Norway-based fertiliser maker Yara has tentatively agreed to build an explosives plant on the Burrup peninsula in western Australia with joint-venture partners Orica and Apache, it said on Thursday.

"Yara has signed a heads of agreement with Orica and Apache via joint venture to build a 330,000-metric-tonnes ammonium nitrate plant on the Burrup peninsula and to distribute ammonium nitrate and other explosives products to mining customers in the Pilbara region," the Norwegian firm said.

It said Yara would operate the plant while explosives manufacturer Orica would manage sales and distribution. Each would have a 45-percent stake in the company while oil-and-gas group Apache would have 10 percent.

Final agreement is subject to further negotiation and board approvals, Yara said.


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Dow Chemical loses elastomers patent lawsuit against LG Chem

(cen.acs) -- Dow Chemical has lost the patent lawsuit it filed in 2009 in Seoul, South Korea, against LG Chem. Dow claimed that the Korean firm had violated its intellectual property rights on metallocene catalyst technology for producing ethylene-based elastomers.

Dow is preparing to appeal the court's ruling that its claim has no legal basis. "Dow believes that the district court's decision is improper," a company statement says. Prior to this judgment, the statement adds, "Dow's patents were held valid by the Intellectual Property Tribunal of the Korean Intellectual Property Office."


LG Chem counters that it developed the technology on its own in 1999. The Korean firm opened a 90,000-metric-ton-per-year plant making use of the process in 2008.

Chemical companies have fought several legal battles over metallocene catalyst technology in recent years. Although the market for resins made with the catalysts is not yet huge, it is growing quickly, according to Juay Piu Nah, a polyolefins industry consultant at IHS Chemical in Singapore. "If you can hold on to your technology, you can be a player in the long run," he says.


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Belarus to raise oil export duties on 1 March

(news.belta) -- On 1 March 2012 Belarus raises export duties on oil and oil products. The relevant decision is envisaged in government resolution No.184 of 27 February 2012, from the press service of the Belarusian government.

On 1 March the oil export duty will go up from USD393.7 to USD411.2 per tonne. Starting from 1 March the uniform rate of export duty on light and dark oil products (apart from petrol), which since 1 October has been unified at the level of 66% of the duties on oil, will be USD271.4 per tonne as against USD259.8 in February 2012. The same duty is imposed on benzene, toluene, xylenes. The coefficient of 0.9 is applied to the export duties on commodity and directly distilled petrol. Thus they will equal USD370.1 per tonne as against USD354.3 in February. Duty on propane, butane, ethylene, propylene, butylene and butadiene, other liquefied gases is set at USD157.3 instead of USD181.7.

The resolution amended Resolution No.1932 of the Council of Ministers of 31 December 2010 ⌠On setting export duties on crude oil and some oil products and on abolishing some resolutions of the Council of Ministers of the Republic of Belarus. The document was adopted in accordance with Decree No. 716 of 31 December 2010 ⌠On the rates of export customs duties.

Starting from 1 October 2011 Belarus, following Russia, has been calculating export duties on oil and oil products using the formula ⌠60/66. The formula is applied to the products exported outside the customs territory of the Customs Union. The formula implies that the rates of export duty on light and dark oil products have been harmonized and are calculated using the coefficient 0.66 (66%) of the oil duty. The duty on petrol is calculated using the coefficient 0.90 (90%).



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Russia may discount heavy crude oil export duty

(bloomberg) -- Russia, the world's largest oil producer, may lower the export duty for heavy crude to 10 percent of the standard rate as it seeks to stimulate production.

A government commission headed by Deputy Prime Minister Igor Sechin approved the Energy Ministry proposal, which would extend the discount for heavy, or viscous, oils for 10 years from July 1.

The lower duty would save companies $100 million a year at current production levels of heavy crude and could provide as much as USD1.3 billion in annual tax savings if output of that grade increases according to Energy Ministry forecasts.

Heavier crude grades yield less lucrative products such as gasoline and diesel compared with lighter blends and typically contain more sulfur.
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