Kazakhstan Chamber of Commerce in the USA

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Archive for the ‘Energy’


Construction of International IAEA Low Enriched Uranium (LEU) Bank Underway 0

Posted on February 22, 2017 by KazCham

NTI

The world’s first international low enriched uranium (LEU) bank is taking shape on a snowy landscape in the northeast Kazakhstan city of Ust-Kamenogorsk. The remote region is known for its large mining and metals industry, and the new LEU bank is being built on the grounds of the Ulba Metallurgic Plant (UMP), one of the world’s largest producers of fuel for nuclear power plants.

The LEU bank, which is expected to be ready for operation by September, will provide countries with an assured LEU supply for peaceful purposes in case of market supply disruptions. In addition, it will provide a resource countries can use instead of developing their own enrichment capacity, which would increase the risk of proliferation of potentially dangerous nuclear material and technology.

NTI and NTI advisor Warren Buffett were catalysts of the LEU bank in 2006. That was when Mr. Buffett committed $50 million to the project, contingent upon the International Atomic Energy Agency (IAEA) receiving an additional $100 million in funding, a condition that was met in 2009. Construction of the new LEU bank facility began in August 2016.

“It’s exciting to see the construction underway,” said Andrew Bieniawski, NTI Vice President for Material Security and Minimization. “We look forward to completion of the project and commend the continued efforts of the IAEA and the Government of Kazakhstan to establish the international LEU bank.”

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US-Kazakh Relations to Grow Despite Many Changes in 2017, Says US Ambassador 0

Posted on January 18, 2017 by KazCham

Astana Times

The United States, one of the top foreign investors in Kazakhstan, is about to witness Donald Trump’s inauguration on Jan. 20, as the 45th and probably one of its most controversial Presidents. Will policies under the new administration affect U.S.-Kazakh relations?

The Astana Times interviewed the current U.S. Ambassador in Astana, George Krol, in search of answers.

Numerous U.S. companies have invested more than $26 billion in Kazakhstan, making the country one of the top foreign investors, primarily in natural resources, manufacturing, and services, said Krol. Last year the trade turnover between the two nations totalled $1.4 billion, with more than 400 U.S.-Kazakh joint ventures created throughout the years. The U.S. also aided Kazakhstan during its accession to the World Trade Organisation (WTO).

Kazakhstan began Jan. 1 as a non-permanent member of the UN Security Council, which Krol called an historic happening in the life of the independent, 25-year-old country.

“We are so pleased to begin working with Kazakhstan on the United Nations Security Council.  Kazakhstan’s membership on the Security Council is a historic opportunity and testament to the success of pragmatic ‘multi-vector’ foreign policy,” he said. “Over the past quarter century, we have worked together for the benefit of the peace, security and prosperity of our two peoples and the world and I am confident Kazakhstan’s tenure on the Security Council will be a productive one.”

The ambassador highlighted the country’s competitive edge in numerous sectors and spheres, such as the food industry, petro chemistry, metallurgy and agriculture.

“As an example, we are cooperating with the Ministry of Agriculture and grain producers to increase production of nutritionally fortified wheat. With U.S. investment and technology, crops from Kazakhstan could significantly improve the nutrition and health of people throughout Central Asia. We are also closely cooperating with the animal husbandry sector. Over 8,000 American cows and bulls have been imported into Kazakhstan to improve local stock,” he said.

Ten-Year Visas

Starting Dec. 29, the U.S. and Kazakhstan agreed on issuance of 10-year visas for their citizens, a step in bilateral relations that will facilitate travel and boost tourism and business ties, said Krol.

“The ties between our peoples are some of the most important links between our two countries and the introduction of 10-year visas will only strengthen those links. The introduction of 10-year-validity business and tourism visas lets Kazakh and American citizens spend more time planning their travel and less time worrying about visa forms. We strongly believe the 10-year visas will help more Kazakhs and Americans get to know each other better and do business together. Thousands of Kazakhs would be able to travel to the U.S. to obtain education or improve their professional qualifications. Here, in Kazakhstan, hundreds of Americans have worked as English teachers, some through U.S. government programmes like Fulbright or Peace Corps. American teachers would be able to continue to support Kazakhstan’s vision of becoming a trilingual society,” he added.

EXPO 2017

Kazakhstan’s major event of the year, EXPO 2017 in the capital Astana, will carve out the country’s image throughout the three-month exposition from June-September. Krol, the commissioner for the U.S. pavilion, praised the ongoing construction of the site.

“The U.S. is moving forward expeditiously with the required internal procedures to allow us to participate in EXPO 2017. The State Department has chosen a contractor for the U.S. pavilion, APCO Worldwide; architects and planners designated by APCO will be here in January to survey the pavilion and finalise the plans necessary for them to take possession,” he said.

“I want to commend Kazakhstan on the excellent preparatory work it has already done at the EXPO site and I believe EXPO 2017 will serve as a valuable platform for businesses, governments and other organisations to advance global cooperation on clean energy. Several U.S. companies including GE, Chevron and Fluor, have pledged to sponsor the U.S. pavilion,” he added.

Under the new administration, Krol noted the interests of the U.S. in “promoting peace, stability and prosperity in the region and globally will not change, nor will our commitment to a vital partnership with Kazakhstan.”

“Relations between the U.S. and Kazakhstan will continue to grow and strengthen based on the firm foundation of mutual respect and shared interests built over the 25 years of Kazakhstan’s independence,” he added.

“In 2016, the U.S. and Kazakhstan marked the 25th anniversary of diplomatic relations between our two countries. This development highlights the strong partnership that our two countries have forged over the last 25 years and symbolises the United States’ commitment to friendship with the people of Kazakhstan in the decades to come. We look forward to new developments in our partnership in 2017,” said Krol.

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Kazakhstan to stop regulating gasoline prices at the state level 0

Posted on December 11, 2016 by KazCham

Centil Law Firm BI@centil.law

The Kazakh government will terminate the state regulation of AI-80 gasoline prices starting from 2017, according to the Kazakh Energy Ministry. There are plans to lift the ban on the export of light oil products by 2019.

In August 2016, Kazakhstan stopped regulating diesel fuel prices, and stopped regulating AI-92/93 gasoline prices even earlier in September 2015. Due to the decision to deregulate the price of AI-92 gasoline and diesel fuel, the risk of the deficit of petroleum, oil and lubricants decreased to a minimum.

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Saudi signs nuclear deal with Kazakhstan 0

Posted on November 24, 2016 by KazCham

Centil Law Firm BI@centil.law

Saudi Arabia and Kazakhstan have signed a nuclear deal as part of a new deal to improve bilateral relations between the two countries.

A cooperation agreement relating to the peaceful use of nuclear energy was signed by the president of King Abdullah City for Atomic and Renewable Energy, Dr Hashim Yamani, and Kazakhstan’s Minister for Energy, Kanat Bozumbayev.

Memorandums of understanding were also signed in the fields of agriculture, livestock, water, the extradition of wanted persons, and the transfer of prisoners.

Saudi Arabia is one of several Middle Eastern states looking into setting up a nuclear power programme. Although its nuclear programme is in its infancy, the Kingdom has plans to construct 16 nuclear power reactors over the next 20 years. A 2010 royal decree identified nuclear power as essential to help meet growing energy demand for both electricity generation and water desalination, while reducing reliance on depleting hydrocarbon resources.

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Condor Petroleum to begin production in Kazakhstan 0

Posted on October 25, 2016 by KazCham

Centil Law Firm BI@centil.law

Condor Petroleum Inc. has announced that the Shoba Production Contract has been signed with the government of Kazakhstan, providing for commercial production at the company’s Shoba oil field.

Production is expected to resume at Shoba in September at a rate of more than 500 bpd. The Taskuduk Production Contract is expected to be signed shortly, and will provide for further commercial production at the company’s wholly owned Taskuduk oil field in Kazakhstan.

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Kazakhstan to launch Kashagan oil production in November 0

Posted on October 06, 2016 by KazCham

Centil Law Firm BI@centil.law

Commercial oil production will begin at the giant Kashagan field in Kazakhstan in November. KazMunayGaz signed a contract last month with trader Vitol to arrange prepayment for its share in the Kashagan oil, worth $1 billion. Kashagan’s output will be a modest 50,000 to 1 million tonnes this year, 3 million to 5 million tonnes next year and then 7 million tonnes in 2018, according to Kazakh Energy Minister Kanat Bozumbayev.

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Samsung C&T and Samsung Engineering: Kazakh power plant cancelled 0

Posted on October 02, 2016 by KazCham

Centil Law Firm BI@centil.law

South Korea’s Samsung C&T Corp and Samsung Engineering Co Ltd have announced that orders for a thermal power plant project in Kazakhstan worth a combined 2.8 trillion won ($2.5 billion) have been cancelled.

In December 2014, the companies had said that they would jointly carry out the construction of a coal power plant in Kazakhstan. Samsung C&T said in another regulatory filing that it exercised a put option for its stake in the Balkhash Thermal Power Plant Joint Stock Company, the entity that placed the construction order with the Samsung companies, to Samruk Energy for $192.5 million.

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Kazakhstan and China to build production facilities worth $26 billion 0

Posted on September 20, 2016 by KazCham

Centil Law Firm BI@centil.law

On 5 September, the Kazakh President Nursultan Nazarbayev attended a briefing on the results of his visit to China, where he took part in the G20 summit in Hangzhou. There, he stated that the two countries have made agreements regarding both the exportation of Kazakh food to China and the construction of joint production facilities.

For the first time ever, Astana and Beijing have agreed that Kazakh flour, grain, beans, oil-bearing crops, meat and poultry will be exported to China.

“The list includes 51 facilities, two of which have already been constructed. The construction of four facilities worth a total of $2.5 billion will be completed this year. During five years it is planned to build enterprises for a total of $26 billion,” said Nazarbayev.

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Kazakhstan gives strong impetus to development of green energy worldwide – Greenpeace 0

Posted on September 14, 2016 by KazCham

Kazinform

Kazakhstan gives a strong impetus to the development of green energy around the world, Tobias Munchmeyer, an expert of Berlin-based Greenpeace international organization, says.

“Our organization welcomes the initiative of Kazakh President who invited G20 member states to join the EXPO 2017 by holding several events in Astana. The theme of the oncoming exhibition is “the energy of  Future”, i.e. development of alternative, eco-friendly energy sources. We can see now that Astana is keen on promotion of green energy development and contribute to environmental conservation around the world,” said Tobias Munchmeyer in an interview with Kazinform.

Greenpeace is looking forward to the EXPO 2017, he added.

President of Kazakhstan Nursultan Nazarbayev participated in the Summit of G20 Leaders in Hangzhou during which he announced his vision of solution of the global economic problems. Nazarbayev invited all the countries to participate in EXPO 2017 and suggested holding a number of G20-backed events in Astana as part of the international exhibition.

“Kazakhstan actively contributes to the implementation of the UN Sustainable Development Goals, Paris Agreements and green economy principles. Astana EXPO 2017 will also contribute to this process,” he said.

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Kazakhstan Says Expo 2017 Buildings Nearly Ready 0

Posted on September 10, 2016 by KazCham

World Expo News

Construction of the venues for the 2017 Universal Exposition in Astana, Kazakhstan’s capital, is in the final phase, the chairman of the board at NC Astana EXPO-2017 JSC said Tuesday.

“The international pavilions are nearly complete. In October we will hand over the exposition to the participants, who have begun to contact us seeking approval of their projects,” Akhmetzhan Yessimov said.

“We now have 98 participating countries in the exhibition. That in addition to 18 international organizations. In June of this year we signed a Memorandum of Understanding with the World Tourism Organization” to cooperate in planning and promoting the event, the former mayor of Almaty said.
Tour packages for the expo will be priced in the range of 100-330 euros ($112-$337), NC Astana EXPO-2017 JSC tourism and promotion director Allen Chayzhunusov said Tuesday during a meeting with the Astana Public Council.
“For example, a tour for 20 people for three days: the economy package will cost 40,000 tenge (100 euros), the standard package will have a price of 59,000 tenge (155 euros) and the premium package will start from 125,000 tenge (330 euros),” Chayzhunusov said.

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