ASTANA, Kazakhstan, September 28. KazMunayGas (KMG, Kazakhstan's national oil and gas company) and the German export credit agency Euler Hermes signed a Memorandum of Understanding, KMG told Trend.
The purpose of the document is to strengthen relationships between the parties and intensify efforts to promote trade and investment between our countries.
Within the framework of the Memorandum, Euler Hermes' role is to support German companies by providing insurance coverage for export transactions in Kazakhstan as well as for transactions involving the import of raw materials into Germany. The instruments are aimed at developing mutually beneficial cooperation and expanding production and investment opportunities.
In addition, the parties intend to help support a high-quality, low-carbon transition in the energy and petrochemical industries and develop climate-friendly projects.
During the negotiations between KazMunayGas and Euler Hermes, it was noted that the Memorandum of Cooperation will give new impetus to the development of bilateral cooperation with German companies, and this partnership will bring new investments and technologies to the Kazakh oil and gas and petrochemical industries.
Euler Hermes is a global leader in trade credit insurance and a recognized specialist in the fields of surety, collection, structured trade credit, and political risk. A subsidiary of Allianz SE, Euler Hermes is rated AA by Standard & Poor's.