ASTANA, Kazakhstan, March 22. Kazakhstan's QazaqGaz National Company and Sinopec, an international energy and chemical company, have signed a Memorandum of Understanding (MoU) to explore coalbed methane (CBM) extraction projects, Trend reports via QazaqGaz.
The MoU was signed during a visit by a QazaqGaz delegation to Beijing. Ulan Burkitov, Deputy Chairman for Geology and Prospective Projects at QazaqGaz, and Xue Weisong, General Director of Sinopec International Energy Investment Limited, formalized the partnership.
The agreement focuses on the joint study of the coalbed methane potential in the Karaganda coal basin, a significant source of natural gas in the region, which could play a crucial role in Kazakhstan’s energy sector.
This collaboration aligns with QazaqGaz’s strategy to expand the country’s gas resource base. The company noted that it remains open to partnerships with both local and international firms for the development of various energy projects, including those focused on unconventional hydrocarbons.
Sinopec is China’s largest supplier of oil and petrochemical products, as well as the world’s largest refining company and second-largest chemical company. Its network of gas stations ranks second globally. In recent years, it has consistently ranked among the top companies on Fortune’s Global 500 list.