Kazakhstan, Russia move to swap operations on mutual oil supplies from 2014

Oil&Gas Materials 7 March 2013 16:14 (UTC +04:00)

Kazakhstan, Astana, March 7 / Trend D. Mukhtarov /

Kazakhstan will move to swap operations on oil with Russia from Jan. 1, 2014, Kazakh Oil and Gas Minister Sauat Mynbayev said today.

"We pass to the swap operations with Russia as from January 1, 2014," he said. "This was agreed in 2010."

The minister said negotiations are underway about the swap terms.

"The parties will create the conditions for mutual oil supplies between economic entities in an equal volume from January 2014, which is carried out on the basis of agreements between economic entities," Mynbayev said.