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Russian-Kazakh Cooperation To Be Enhanced

Source: www.gulfoilandgas.com 2/17/2012, Location: Asia

Gazprom headquarters hosted a working meeting among Alexey Miller, Chairman of the Company's Management Committee, Umirzak Shukeyev, Head of the Samruk-Kazyna National Welfare Fund, Chairman of the KazMunaiGaz Management Board and Kairat Boranbayev, Chairman of the KazRosGaz Management Board.

The meeting focus was placed on taking new opportunities available after the Common Economic Space had been established in Russia, Kazakhstan and Belarus. The parties looked at the issues of cooperation deepening throughout the entire production chain from geological exploration to hydrocarbons distribution. It was noted that the relationship between Russia and Kazakhstan was strategic by nature, and the partnership in the energy sector enjoyed a unique position in strengthening the economic ties between the two countries.

According to provisional estimates, in 2011 Gazprom Group marketed 3.7 billion cubic meters of natural gas (10 per cent more as compared to 2010) in Kazakhstan.

KazRosGaz is a joint venture set up by Gazprom and NK KazMunaiGaz on a parity basis. The JV deals with purchase, marketing, processing, transmission and distribution of natural gas and its commercial products in the domestic and foreign markets.

The Samruk-Kazyna National Welfare Fund was set up in October 2008. It is primarily focused on managing its shareholdings in national companies and other legal entities in order to raise their competitiveness in global markets.

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