Kazakhstan not to allow foreign companies’ expansion in its energy sector

Photo: Kazakhstan not to allow foreign companies’ expansion in its energy sector / Kazakhstan

Astana, Kazakhstan, May 14

By Daniyar Mukhtarov - Trend:

Kazakhstan will not allow the expansion of not only Chinese, but companies from any other country in its energy sector, Kazakh First Deputy Prime Minister Bakytzshan Sagintaev said at a press conference in Astana on May 13.

"Our priority is the protection of national interests," he said. "We will not allow the expansion of not only China, but also any other country in the energy sector. Chinese companies seem to dominate in Kazakhstan's energy sector. So, their share in Kazakhstan's oil production is 23 percent, while 25 percent in the U.S."

He recalled that the critical limit is considered to be a 30 percent share.

"But no one has reached this limit," he said.

At the same time, he stressed that cooperation with Chinese companies offers many advantages.

"The Atyrau refinery and Shymkent refinery are being modernized," he said. "The Beineu -Bozoy - Shymkent gas pipeline is being built. So, there is great benefit as a result of joint projects. There is no problem."

edited by CN

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