BAKU, Azerbaijan, Apr.14
By Nargiz Sadikhova - Trend:
The volume of gas transported in Kazakhstan amounted to 24,4 billion cubic meters in 1Q2020, which almost meets the planned volume, Samruk-Kazyna JSC CEO Akhmetzhan Yessimov said, Trend reports with reference to the press office of Kazakhstan’s prime minister.
Yessimov spoke about operational results of Samruk Kazyna group of companies during the governmental meeting chaired by Kazakhstan’s Prime Minister Askar Mamin.
Yessimov said that the current situation has affected almost all sectors of the economy, the negative effects were felt primarily by the oil and gas sector, air and railway transportation, energy resources transportation.
“Good results were achieved in 1Q2020, and some indicators increased compared to last year. Oil and gas industry is relatively stable, despite the influence of external factors. According to the results of 1Q2020, operation indicators were ensured by overfulfillment of oil production,” he said.
Yessimov also noted that the oil processing during the reporting period amounted to 4.3 million tons of oil which is slightly below the planned indicator, but is 30 percent more than last year. He said gas transportation volume amounted to 24.4 billion cubic meters, which almost meets the planned volume, and is 10 percent more than during the same period of last year.
“The cargo sphere is relatively stable, non-fulfillment of cargo turnover is six percent, but cargo turnover remained at the level of last year. Nevertheless, there are real prospects for increasing volumes. We see a revival of transit shipments from China,” he said.
Thus, volume of transit increased by 30 percent in Mar. compared to Feb. 2020, significant increase of electricity export is observed, postal cargo transit from China is being implemented once again. Telecommunications sector is stably used.
Additionally, over the course of last years the Samruk Kazyna has paid and thus decreased its external debt by $8 billion.
“This will also allow to reduce the annual need for debt servicing by 269 billion tenge ($629.6 million), but this is not enough, therefore, a lot of work is being done to optimize operating and other expenses that do not directly affect production processes,” Yessimov said.
Yessimov said that these measures will allow to create a certain margin of financial strength taking into account current oil prices in order to ensure a uninterrupted production process.
Follow the author on twitter: @nargiz_sadikh