Kazakhstan, Italy to found JV to transport gas via Azerbaijan & Central Asia
The Italian company GE Oil & Gas and Kazakhstan's National Welfare Fund JSC NWF Samruk-Kazyna and JSC ZKMK, a precision engineering plant operator, have signed an agreement to establish a new joint venture (JV) to produce, assemble and supply gas turbines for gas transmission and transportation projects in Kazakhstan, Azerbaijan and Central Asia, the company reported.
The sides signed an agreement to work towards the establishment of a new joint venture to localize the production and servicing of gas turbines in Kazakhstan.
The agreement was signed in Rome on Nov.5, Italy by Claudi Santiago, President and CEO, GE Oil & Gas, Aidan Karibdzhanov, Managing Director, JSC NWF Samruk-Kazyna and Alibi Akhmedzhanov, General Director, JSC ZKMK.
Mid-2010 has been set as the target date for the formation of the JV that could include localized production of GE's 11-plus MW range of GE10 Gas Turbines.
Claudi Santiago, President & CEO, GE Oil & Gas said that he is confident that they can reach a solid agreement to help meet the growing energy needs of Kazakhstan and Central Asia".
The GE Oil & Gas is a subsidiary of General Electric which manufactures equipment and services for all segments of the oil and gas industry.
GE Oil & Gas employs more than 12,000 people worldwide and operates in over 100 countries.