Latest news with #Caucasus
Yahoo
a day ago
- Business
- Yahoo
Azerigaz and Esyasoft sign $480m Smart Gas Network contract
Azerigaz Production Union (Azerigaz), under the umbrella of the State Oil Company of Azerbaijan Republic (SOCAR), and United Arab Emirates-based Esyasoft have entered into a $480m (816m manat) contract to develop a smart gas network in Azerbaijan, reported the Azerbaijan State News Agency. The contract involving the design, installation and commissioning of a smart gas network is set to introduce advanced technologies to improve operational efficiency, reduce losses and enhance customer satisfaction. Spanning approximately 14 years, the project includes the installation of two-and-a-half million smart meters as well as system support phases. This substantial investment will facilitate the digitalisation of Azerbaijan's gas network, incorporating smart sensors, a digital solutions lab, personnel training, international knowledge exchange and the application of AI. Additionally, the initiative will ensure secure data storage within the government cloud and establish a modern control centre. Consumers stand to gain from the smart gas network through more precise billing, real-time usage tracking, expedited issue resolution and digital access to consumption data. The project underscores Azerigaz's commitment to modernising its services and enhancing public satisfaction with its offerings. The contract signing, which took place on 17 July, builds on a prior cooperation agreement between SOCAR and Esyasoft during COP29 in Baku. SOCAR president Rovshan Najaf, Azerigaz PU director-general Azer Mammadov and Esyasoft Holding Group CEO Bipin Chandra officiated the signing. In related developments, SOCAR has reportedly forged new partnerships with ExxonMobil and BP to continue oil and gas exploration in Azerbaijan. These collaborations are expected to maintain the nation's oil production at around 582,000 barrels per day for the next five years, supported by Western energy investments. "Azerigaz and Esyasoft sign $480m Smart Gas Network contract" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Georgia's tea growers working to revive a Soviet-era industry
STORY: This abandoned building in western Georgia used to be the Soviet Union's Institute of Tea and Subtropical Crops. Here, scientists worked on perfecting cultivation methods for sprawling tea plantations that supplied the bulk of the vast communist state's brews. That industry crumbled after Georgian independence - but some are now trying to bring it back. "This is the tea from my garden, from this season, from this May." That's Lika Megreladze, whose mother was a scientist at the tea institute. She owns a guesthouse in a village not far from the institute, where she cultivates her own small tea plantation for visitors. "It was the only one, in the whole Soviet Union, research institute for tea and other subtropical cultures. With huge laboratories, different laboratories. There were experimental fields for tea, for different plants, there were experimental tea factories, and lots and lots of things." Megreladze recalls the tea industry's collapse after the Soviet Union collapsed in 1991. "Georgia, a young country, could not save this huge industry," she said. By 2016, official figures show, Georgian tea production had declined 99% from its 1985 peak... With this toppled statue of Soviet founder Vladimir Lenin outside the institute one of the few signs left of that era. Tea plants were introduced to Georgia in the early 20th century by a Chinese expert invited by the Imperial Russian authorities. They flourished in Guria's hot, humid climate, stretching down from the Caucasus Mountains to the Black Sea coast. And now, the industry is seeing a revival. 'For 40 years, nothing was happening here. Here was a jungle." Nika Sioridze and Baaka Babunashvili began rehabilitating derelict tea plantations about a decade ago. They process tea leaves in an abandoned Soviet silk factory. With an aim to reintroduce Georgian tea to local and European buyers. Financed partly by a government grant, their GreenGold Tea is one of several new companies that has brought tea fields in the area back to life. The Soviet Union had also put quantity over quality. So now, they say, their task is to reinvent Georgian tea as a high quality, distinctive product for a new era. 'We must be different from Chinese tea makers, Taiwanese tea makers. Because Georgia is Georgia, and we need some niche to make our own tea.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
2 days ago
- Business
- Forbes
America's Caucasus Gambit: Zangezur Corridor's $50B Trade Boost and Geopolitical Risks in 2025
Tom Barrack, the U.S. Ambassador to Turkey, has floated an audacious proposal—a century-long, ... More privately-managed lease of the contested Zangezur corridor between Armenia and Azerbaijan. Inspired by historical precedents such as the Panama Canal and Cold War Berlin corridors, this proposal could unlock an estimated $50-100 billion annually in regional trade flows by 2027 .(Photo by Rami Alsayed/NurPhoto via Getty Images) In a world scrambling for non-Russian energy amid escalating global tensions, could a 43-km strip of Armenian land become America's masterstroke against Moscow and Tehran? The US's bold bid to lease the Zangezur Corridor for a century promises $50-100 billion in annual trade flows—but risks igniting a new Cold War flashpoint in the Caucasus. The United States has thrust itself into the center of a high-stakes diplomatic gamble that could fundamentally alter energy flows across Eurasia. Through its ambitious proposal for the Zangezur Corridor—a strategic 43-kilometer passage through Armenia's Syunik province—Washington aims to break decades-old deadlocks, diversify Europe's energy supplies away from Russia, and counter the growing influence of Moscow, Beijing, and Tehran in a critical transit region. The initiative reflects America's broader ambition to exploit a rare power vacuum in the South Caucasus, a region historically dominated by Russia but now ripe for realignment following Moscow's stark failure to protect its ally Armenia during Azerbaijan's decisive September 2023 offensive in Nagorno-Karabakh. Strategic Realignment in the Caucasus Russia's credibility as a security guarantor in the South Caucasus lies in ruins. Despite the presence of Russian peacekeepers established under the November 2020 ceasefire agreement, Moscow failed to intervene when Azerbaijan retook control of Nagorno-Karabakh, displacing 100,000 ethnic Armenians. This inaction was perceived in Yerevan as a profound betrayal, shattering faith in Russian security guarantees and catalyzing Armenia's historic pivot westward. ANKARA, TURKIYE - JANUARY 9: An infographic titled 'Construction of roads and railways extending to ... More the Zangezur Corridor continues without interruption' created in Ankara, Turkiye on January 9, 2023. Once constructed, the corridor will connect Azerbaijan's western provinces and Nakhchivan via Armenia, further stretching to China, Central Asia, the Caspian Sea, the Caucasus and Türkiye. (Photo by Yasin Demirci/Anadolu via Getty Images) The strategic consequences have been swift and dramatic. Armenia's parliament passed EU accession legislation in April 2025, while a US strategic charter with Armenia formalized the growing partnership. As former US Undersecretary of State James O'Brien noted , "The future built around the axis of Russia and Iran as the main players in regional security is unstable and undesirable, including for the governments of Armenia and Azerbaijan." This Western alignment creates an unprecedented opening for US influence. Russian imports to the region, which supplied 20-30 percent of regional trade pre-2022, now face sanctions constraints. Meanwhile, US Senior Advisor for Caucasus Negotiations Louis Bono has advanced proposals for international oversight of the corridor, drawing on precedents like the Panama Canal and Cold War Berlin corridors. The Economic Prize The potential economic rewards are vast enough to override political and security concerns. World Bank modeling suggests the corridor could unlock $50-100 billion in annual trade value by 2027. This surge would be driven by dramatic logistical improvements—Bloomberg data from May 2025 indicates the route could cut Europe-Asia transit times by 12-15 days compared to existing routes. The return on investment appears compelling. The Caspian Policy Center estimates infrastructure costs of $3-5 billion over 5-10 years, while Oxford Economics models project $20-30 billion in annual logistics savings. For Azerbaijan, the Center for Economic Reforms Analysis and Communication projects the corridor would increase total exports by over $700 million and boost non-oil GDP by 2 percent annually. Energy flows underscore the urgency. Azerbaijan's Southern Gas Corridor delivered 12 billion cubic meters to Europe in 2023, targeting 20 billion by 2027 under a 2022 EU memorandum. Kazakhstan plans to transit increasing oil volumes through Azerbaijan, with actual flows reaching 1.2 million tons between January and October 2024, despite technical challenges limiting capacity. For European energy security, the implications are profound. The IEA's 2025 World Energy Outlook projects Europe needs 20 billion cubic meters more non-Russian gas by 2030. Normalized Armenia-Turkey borders could enhance access to Caspian reserves, potentially cutting import costs by 10-15 percent for firms like BP. The Diplomatic Innovation The core challenge lies in irreconcilable positions: Azerbaijan demands an unimpeded corridor as dividends from its 2023 military victory, while Armenia adamantly refuses to cede sovereignty over what it views as critical territory. The US "lease" proposal represents a creative attempt to use corporate-legal frameworks to circumvent this deadlock, offering Baku security guarantees while allowing Yerevan to maintain nominal sovereignty. This approach draws inspiration from historical precedents where creative governance arrangements solved seemingly intractable disputes. Like the Panama Canal under US administration from 1914-1999, the model promises to facilitate global trade while addressing security concerns. Yet critics warn of potential neo-colonial overtones and the risk of long-term backlash. The March 2025 peace agreement drafts marked significant progress, finalizing terms on mutual territorial recognition, border delimitation, and non-use of force. However, they stalled on transport guarantees and enclave access—precisely where the US proposal seeks to break through. Geopolitical Calculations and Rival Responses The corridor's success would fundamentally alter regional power dynamics, explaining why rival powers are recalibrating their strategies. Iran faces the prospect of losing 20-30 percent of its transit role, disrupting critical trade lifelines including the 43,000 Turkish trucks that pass annually to Central Asia. Russia confronts potential revenue losses of $10-20 billion over a decade and a 10-15 percent erosion of its leverage over European energy markets. Strategic Takeaway: The Zangezur Corridor represents a defining test of US capacity to engineer win-win solutions in contested regions, with implications extending far beyond the South Caucasus to America's broader competition with revisionist meanwhile, eyes $20-30 billion in Belt and Road efficiencies by 2030 through improved connectivity. Yet Beijing must balance these gains against the risk of reduced dependence on Chinese-controlled routes. The corridor could position Turkey as a critical energy hub with direct access to Turkic states, potentially capturing $10-15 billion in annual transit revenues by 2030. Energy majors are positioning for opportunity. SOCAR expands pipeline capacity while ADNOC explores hydrogen joint ventures. BP and Chevron project $5-10 billion in upstream investment boosts from expanded export capacity. However, political stalemates could inflate project costs by 20 percent, while regulatory delays might push timelines beyond viable investment windows. The Turkish Dimension and Regional Reset Turkey's strategic calculus adds complexity to the equation. Ankara explores Kurdish de-escalation through PKK dialogues, signaling a "big reset" that could stabilize borders and unlock economic potential. This diplomatic thaw, if successful, could complement the Zangezur initiative by creating a more stable regional environment for major infrastructure projects. Turkish businesses in eastern Anatolian provinces project a 310 percent increase in export capacity—from $160 million to $500 million annually—if the corridor materializes. This economic momentum provides powerful incentives for sustained diplomatic engagement, even amid domestic political sensitivities. Risks and Implementation Challenges Despite compelling economics, significant risks persist. Eurasia Group assigns a 60 percent probability to stalled talks, potentially delaying implementation by 12-18 months. Lloyd's data from June 2025 warns of 20 percent commodity volatility if negotiations fail, while insurance premiums could spike 20 percent. Armenia has explicitly denied discussions regarding any lease or transfer of territorial control. Press secretary Nazeli Baghdasaryan stated firmly that "Armenia has not discussed and is not discussing the transfer of control over its sovereign territory to any third party." This resistance highlights the fundamental challenge facing US mediators. The feasibility of international oversight remains uncertain. CSIS analyses estimate only 40-50 percent success probability even with UN guarantees, vulnerable to Armenian vetoes over perceived sovereignty encroachment. The model's success depends on addressing core security concerns while maintaining sufficient international legitimacy. Strategic Implications The Zangezur initiative represents more than infrastructure development—it embodies a broader test of American diplomatic creativity in an increasingly multipolar world. Success would demonstrate Washington's ability to forge solutions that counter rival influence while serving tangible economic interests. Failure could signal diminished US capacity to shape outcomes in contested regions. For European allies, the corridor offers a pathway toward genuine energy diversification. EU energy savings could reach $20-30 billion by 2030, supporting net-zero transitions while reducing dependence on authoritarian suppliers. These gains explain why European capitals quietly support the American initiative despite public caution about regional tensions. The project also tests whether economic incentives can overcome historical grievances. Armenia's potential access to $2.5 billion in EU development funds creates powerful inducements for compromise, yet only if sovereignty concerns receive adequate consideration. The Path Forward By 2027, successful implementation could yield $20-50 billion in annual trade flows through enhanced Middle Corridor capacity. The World Bank estimates potential cargo capacity of 11 million tons, fundamentally altering Eurasian logistics. Yet this prize remains contingent on navigating Armenian sensitivities while maintaining international support. Corporate boards must hedge against Zangezur uncertainties through diversified strategies, capturing potential 10-15 percent gains through Azerbaijani-Turkish partnerships while preparing contingencies for diplomatic failure. Companies should actively engage US mediators to help navigate sovereignty risks while positioning for eventual success. The US-led Zangezur proposal ultimately encapsulates bold vision—fostering peace, securing energy transitions, and countering strategic rivals. Yet it carries high stakes in a world where great power competition increasingly shapes regional outcomes. Success hinges on addressing legitimate sovereignty concerns while unlocking transformative economic potential, testing whether American diplomatic innovation can still reshape the global order.
Al Arabiya
3 days ago
- Al Arabiya
Georgia arrests two men trying to sell weapons-grade uranium
Georgia has arrested two men for allegedly attempting to illegally sell weapons-grade uranium, officials in the Caucasus nation said on Thursday. Counter-intelligence and special operations units detained a Georgian and a foreign national while they were allegedly trying to sell radioactive uranium that 'could be used to manufacture explosive devices or carry out terrorist attacks,' the security services said. The two men were seeking $3.0 million for the uranium when they were arrested in the Black Sea port city of Batumi, the services said. The 'nuclear material', described as a 'radioactive chemical element emitting alpha and gamma radiation', was deemed capable of causing mass casualties if weaponized, the agency added. It said the plot had been 'detected and neutralized at an early stage.' The suspects face up to 10 years in prison for the illegal handling of nuclear material. Concerns have existed for years that extremist groups could get hold of unsecured radioactive materials from countries across the former Soviet Union. Georgia and neighboring Armenia -- both ex-Soviet states -- have reported numerous cases of people trying to sell radioactive substances, including attempts to smuggle weapons-grade uranium.
Yahoo
3 days ago
- Sport
- Yahoo
Merab Dvalishvili sounds off on Umar Nurmagomedov: 'Where is he now?'
The post Merab Dvalishvili sounds off on Umar Nurmagomedov: 'Where is he now?' appeared first on ClutchPoints. Fresh off a remarkable run as bantamweight champion, Merab Dvalishvili has never shied away from speaking his mind on contenders and the ever-shifting landscape of the UFC's 135-pound division. In a candid recent interview, Dvalishvili set the MMA world abuzz with his pointed assessment of Umar Nurmagomedov, a fighter many believe is a legitimate threat but, according to the champion, hasn't done nearly enough to earn the top billing fans and pundits have thrust upon him. Dvalishvili's Message: 'Experience and Activity Matter' Dvalishvili was clear in drawing a line between the accomplished Petr Yan and the up-and-coming Nurmagomedov, stating, 'Petr Yan is better than Umar because Petr has already had many fights with top fighters. He has more experience. He's constantly active, constantly fighting.' The message: real championship pedigree comes not just from talent and potential but from enduring the crucible of the division's elite, night in and night out. 'Umar… we've only seen him fight against me and Cory. He needs to fight the top guys in the division. Sure, Umar is a good fighter, but he needs to stay busy all the time. Where is he now? Why isn't he fighting?' Dvalishvili pressed, echoing concerns shared by some observers who have watched the Dagestani standout's UFC trajectory stall due to injuries and scheduling woes these past seasons. The roots of this critique trace to what Dvalishvili values most in an opponent: activity and résumé. He sees Yan, who has run the gauntlet of former champions and perennial contenders, as a model of what it means to be at the top. Dvalishvili's take is unfiltered but steeped in respect for the grind, and it is this ethic that has carried him to the top of the sport. While acknowledging Nurmagomedov's skills and the brilliance that saw him rise through various levels of competition, Dvalishvili's central argument hinges on a gap in experience against the division's very best fight after fight. In his view, only by staying 'constantly active' and 'constantly fighting', and not disappearing from the rankings for months at a time, can a fighter truly lay claim to elite status. Of course, reacting to Dvalishvili's assessment, some fans have pointed to Umar's impeccable record and precision inside the Octagon; his victory over Cory Sandhagen and his technical acumen continue to turn heads. But for Merab, the proof is in the longevity and level of opposition. The question he poses, Where is he now?, lands with palpable frustration, alluding to a perceived absence that Dvalishvili believes diminishes any claim to a title shot ahead of more seasoned, more visibly active contenders. Merab Dvalishvili 2025 Fighter of the Year As Dvalishvili's career continues to surge, the MMA world recognized his achievements at the highest level when he won the 2025 Fighter of the Year ESPY. Dvalishvili's run through the bantamweight ranks wasn't just about grinding wins; it was about making statements. His victory was marked by consistency, tenacity, and a willingness to engage with every style and every challenge the division could throw at him. Whether defending his belt against top challengers or calling out those hiding in the shadows, Merab's style was assertive, his pace unrelenting. Winning the Fighter of the Year ESPY marked the first time a bantamweight had seized the award in several years, reaffirming his place not just atop the 135-pound landscape, but in the conversation for the best pound-for-pound athletes in the sport today. Furthermore, this achievement underscores the very argument Merab made about Nurmagomedov. Activity breeds recognition. Staying present, taking on all comers, and facing adversity head-on isn't just the foundation for winning titles, it's the path to capturing the hearts of fans and the respect of peers and pundits alike. As the bantamweight division continues to evolve and contenders jockey for the next shot at gold, Merab Dvalishvili's challenge to Umar Nurmagomedov lingers in the air: 'Where is he now? Why isn't he fighting?' For those who believe in the gospel of activity, the answer is simple. In MMA, as in life, you can only silence the critics by showing up and proving yourself, again and again, on the sport's biggest stage. Related: 5 best light heavyweight UFC fighters ever Related: UFC Abu Dhabi suffers major blow as Evloev vs. Pico pulled from card
