BAKU, Azerbaijan, Jan. 6
By Nargiz Sadikhova - Trend:
Kazakhstan could contribute significantly towards diversification of sources for the European market, EU Delegation to Kazakhstan told Trend.
The delegation official said that with over 70 percent of oil exports going to the EU (representing approximately 6 percent of total EU imports), Kazakhstan is the third-largest non-OPEC supplier for the EU, after Russia and Norway.
"As the export of Kazakhstan’s oil is set to increase, with the re-launch of production at gigantic offshore oilfield Kashagan, Kazakhstan could contribute significantly towards diversification of sources for the European market and diminishing the share of dominant players, including Russia," the official said.
The official explained that energy co-operation with the EU is on a solid basis: an MoU was signed in 2006 between the EU and the Republic of Kazakhstan, there are also several co-operation agreements in the field of nuclear energy.
"Energy dialogue between the EU and Kazakhstan is expected to intensify in light of the adoption of the new EU energy security strategy and following the recent entering into force of the Enhanced Partnership and Cooperation Agreement, which contains a dedicated chapter on energy," the official said.
EU-based oil and gas industry has a significant commercial presence in Kazakhstan, including in two of its (three) major oil fields, respectively Karachaganak and Kashagan, the official added.
"The EU, in a close cooperation with its Member States and European Financing Institutions (EBRD, EIB) also supports several initiatives in the areas of energy efficiency, renewable energies, and reforms of national energy policies," the official noted.
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