Kazakh QazaqGaz signs new triennial contract with China for gas supplies

Kazakhstan Materials 20 October 2023 07:50 (UTC +04:00)
Kazakh QazaqGaz signs new triennial contract with China for gas supplies
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, October 20. Kazakhstan's QazaqGaz (national gas company) has signed a new gas export contract with China's PetroChina International for 2023–2026, Trend reports.

The agreement was signed within the framework of the "One Belt, One Road" Summit, with the participation of President of Kazakhstan Kassym-Jomart Tokayev and the Kazakh delegation.

As the company explained, the signed agreement will allow the companies to bring cooperation on the export of Kazakh gas to China to a new, effective level.

Throughout 2023, the head of QazaqGaz held negotiations with the management of China National Petroleum Corporation (CNPC) and PetroChina International regarding the terms and prospects of a new export contract with China.

Gas production volume for 2022 in Kazakhstan amounted to 53.3 billion cubic meters, or 103.1 percent of the 2022 plan. Commercial gas production amounted to 27.8 billion cubic meters, or 94 percent of the plan.

Domestic consumption of commercial gas in Kazakhstan amounted to 19.3 billion cubic meters, or 107.2 percent of the 2022 plan; exports were 4.6 billion cubic meters, or 85.1 percent of the plan.

The volume of liquefied petroleum gas production (supplied to the domestic market) amounted to 2.8 million tons, or 98 percent of the plan.

In 2022, Kazakhstan’s trade turnover with China amounted to $24.1 billion, which is 34.1 percent more than a year earlier.

Exports from Kazakhstan increased over the year by 34.7 percent, to $13.2 billion. The share of Kazakhstan's exports to China accounted for a significant 15.6 percent of the country's total trade turnover.

Imports from China to Kazakhstan grew by 33.5 percent over the year, to $11 billion. China's share in the structure of imports from the Republic of Kazakhstan amounted to 21.9 percent.