BP launches $28 billion Azerbaijan gas pipeline

BP said the giant Shah Deniz field holds about one trillion cubic meters of natural gas. (AFP)
Updated 02 July 2018

BP launches $28 billion Azerbaijan gas pipeline

BAKU, Azerbaijan: British petroleum giant BP has started operating a $28-billion pipeline in Azerbaijan to supply gas to Turkey and elsewhere in Europe, the company said Monday.
The “Shah Deniz 2” development is “the starting point for the Southern Gas Corridor series of pipelines that will for the first time deliver natural gas from the Caspian Sea direct to European markets,” BP said in a statement.
The pipeline bypasses Russia and has been supported by the European Union, which is keen to reduce Europe’s energy dependence on Moscow.
“Together with the Southern Gas Corridor pipeline system, Shah Deniz 2 will deliver significant new energy supplies to Europe, further diversifying its sources of energy,” said BP group chief executive Bob Dudley, quoted in the statement.
The giant Shah Deniz field holds about one trillion cubic meters of natural gas, according to BP estimates. The first phase of the its exploration started in 2006.


US President Trump does not want to do business with China’s Huawei

Updated 19 August 2019

US President Trump does not want to do business with China’s Huawei

  • US Commerce Department expected to extend a reprieve that permits Huawei to buy supplies from US companies to service its customers

WASHINGTON: US President Donald Trump on Sunday said he did not want the United States to do business with China’s Huawei even as the administration weighs whether to extend a grace period for the company.
Reuters and other media outlets reported on Friday that the US Commerce Department is expected to extend a reprieve given to Huawei Technologies Co. Ltd. that permits the Chinese firm to buy supplies from US companies so that it can service existing customers.
The “temporary general license” will be extended for Huawei for 90 days, Reuters reported, citing two sources familiar with the situation.
On Sunday, Trump told reporters before boarding Air Force One in New Jersey that he did not want to do business with Huawei for national security reasons.
He said there were small parts of Huawei’s business that could be exempted from a broader ban, but that it would be “very complicated.” He did not say whether his administration would extend the “temporary general license.”
Speaking earlier on Sunday, National Economic Council director Larry Kudlow said the Commerce department would extend the Huawei licensing process for three months as a gesture of “good faith” amid broader trade negotiations with China.
“We’re giving a break to our own companies for three months,” Kudlow said on NBC’s “Meet the Press.”