After US President Donald Trump signed the latest package of sanctions against Russia last week, Horizon canvassed its contacts in Astana and Washington for what repercussions these measures may have for Kazakhstan, particularly in the energy sector.
In late July, a Karaganda court issued a guilty verdict for 11 suspects accused of stealing oil from a KTO pipeline and the Kazakhstan-China Pipeline Company (an entity partly owned and operated by KTO). While the precise damage is still being calculated, the perpetrators stole tens of thousands of dollars’ worth of crude by cutting
A high-level UK government delegation visited the Astana Expo 2017 last week to advance several strategic investment plans. UK International Trade Minister Greg Hands met with Prime Minister Bakytzhan Sagintayev, Minister for Investments and Development Zhenis Kassymbek and Minister of Energy Kanat Bozumbayev, as well as representatives of Kazakh and British businesses. Minister Hands hosted
Amid much fanfare, on 21 June the Kazakh government signed an agreement with KazMunayGas (KMG), Rosneft, CNPC, SOCAR, Eni and NEOS GeoSolutions to develop the Eurasia project. This will entail drilling an unprecedented 15km-deep well, Caspian-1, in the northern part of the Caspian Sea (75% of the project is in Kazakhstan and 25% is in
On 28 June Kazakhstan held Senate elections, with results exactly in line with what President Nursultan Nazarbayev desired. The president directly appoints 15 of the 47 senators, most of whom are his friends and close associates, including many retired officials. The remaining seats have staggered elections; every three years a group of 16 senators is
Last week KMG CEO Sauat Mynbayev announced that the company is transforming its subsidiaries in order to reduce red tape. These reforms have been discussed for over two years but concrete details are only now emerging. Mynbayev said the company is planning to convert some of its subsidiaries to limited liability partnerships (LLPs) and pass
With much fanfare, on 9 June President Nursultan Nazarbayev opened the long-awaited Astana Expo 2017, which features the theme of “future energy.” The international exposition is the 25-year-old country’s most important public event, and arguably Nazarbayev’s as well. Kazakhstan has previously hosted large events, like the Organization for Security and Co-operation in Europe (OSCE) summit
On 7 June, Chinese President Xi Jinping started a four-day state visit to Kazakhstan, his third trip to the country. He is set to advance bilateral ties and attend the 17th meeting of the Shanghai Cooperation Organization (SCO) Council and the opening ceremony of the World Expo in Astana. However, as this year marks the
On 10 May Kazakh Finance Minister Bakhyt Sultanov said that Air Astana, KazAtomProm and KMG remain on short list of state-controlled companies to be privatized, with 2019 as the latest possible completion date. This echoes the upbeat rhetoric of Umirzak Shukeyev, the head of the Samruk-Kazyna Welfare Fund (SK Fund), who since late 2016 has
This week the Kazakh Ministry of Energy released statistics showing that overall output of all fuels in Q1 2017 grew 17.5% year-on-year. However, even though imported fuels remained at about 30% of the total supply, rising demand caused imports to grow in absolute numbers.