Kazakhstan has been diverting crude oil exports away from the Baku-Tbilisi-Ceyhan pipeline to Russia's Caspian Pipeline Consortium route after contamination in Azerbaijan'sflagship Azeri Light crude disrupted the Mediterranean export system, according to S&P Global Commodities at Sea data Aug. 13 and an industry source with direct knowledge of the matter.
The companies operating two major oil fields in Kazakhstan are being taken to arbitration by the nation’s government, with billions of dollars of revenue at stake amid allegations of unapproved spending, according to people familiar with the matter.
If Kazakhstan’s multi-vector foreign — and energy — policies are to be successful, Tokayev will need to shrewdly balance the country’s partners.
On the picture: Turkish President Recep Tayyip Erdogan greets his Kazakh counterpart, Qasym-Zhomart Toqaev, in Ankara on May 10.
Kazakh President Qasym-Zhomart Toqaev said after a visit to Ankara for talks with Turkish President Recep Tayyip Erdogan that a new transportation route connecting China with European markets bypassing Russia is important for the two nations.
The scale of destruction in Ukraine is already staggering. A new CEPR publication builds on prior experiences with reconstruction following both wars and natural disasters to outline some principles for the future reconstruction of Ukraine. Efforts should include putting the country on the path to EU accession; establishing a stand-alone EU-authorised agency with autonomy to coordinate and manage aid and reconstruction programmes; recognising that Ukraine must own its reconstruction; encouraging inflows of foreign capital and technology transfers; a focus on grants rather than loans; and rebuilding around the principle of a zero-carbon future.
Much of the oil produced in Kazakhstan transits through a pipeline across Russia, which now has shrunk output for a variety of reasons.
What are the lessons and the likely consequences of the recent crisis in Kazakhstan for the country itself, for Central Asia, and for Russia’s role in the region?
In a world of economic interdependence, sanctioning Russia will likely prove more globally destabilizing than policymakers realize. To be effective, the West needs to look to vulnerable Russia-dependent economies, like those of Central Asia, in order to mitigate collateral damage.
There is virtually no progress in the exploration and development of gas fields in Kazakhstan, including that on the assets in the Caspian Sea, President of Kazakhstan Kassym-Jomart Tokayev said.
Decision deals setback to ambitions of Kazakh state holding KazMunaiGaz in looking for foreign partners to grow offshore oil and gas production
