Tag Archives: Kazakhstan

Kazakhstan’s TCO reveals finance plan

JUNE 15 2017 (The Bulletin) — Tengizchevroil (TCO), Kazakhstan’s biggest oil producer, has cut its dividend payment this year to part- fund an expansion project, the CEO of Kazakhstan’s state-owned oil and gas company Kazmuniagas, Sauat Mynbayev, said. Mr Mynbayev also said that TCO would also borrow $20b to fund the $37b expansion project. The TCO expansion is considered a vital step in extending Kazakhstan’s oil production. It will increase production to 39m tonnes per year from 27m tonnes per year by 2022.

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Copyright ©Central Asia & South Caucasus Bulletin — all rights reserved

(News report from Issue No. 333, published on June 19 2017)

 

Kazakh art depicts Crimea as part of Russia

ASTANA, JUNE 12 2017 (The Bulletin) — Ukraine sent an official complaint to the Kazakh foreign ministry after it emerged that an art exhibition set up for the start of EXPO-2017 showed Crimea to be a part of Russia.

Russia annexed Crime in 2014 but the international community, including Kazakhstan, has not recognised the landgrab. Instead it still refers to Crimea as part of Ukraine.

The offending exhibition was based on rows of globes each depicting a country taking part in EXPO- 2017. The Russia globe clearly shows that it owns the Crimean Peninsular while the Ukraine globe is bereft of its former territory.

“The festival Astana Art Fest map of Ukraine showed signs of the violation of territorial integrity,” the Ukraine embassy wrote on Facebook. “The Ukrainian side expects the Kazakh ministry of foreign affairs to clarify the action.”

The Kazakh foreign ministry has not publicly commented.

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(News report from Issue No. 333, published on June 19 2017)

 

EBRD to find solar park in Kazakhstan

JUNE 15 2017 (The Bulletin) — The EBRD is set to finance the construction of a second solar power park in southern Kazakhstan, media reported. The EBRD will give a loan of $45m for the solar power park, the Clean Technology Fund will give $10m and the owners of the field, not named by media, will stump up another $80m. After the construction of Burnoye Solar 2, it will constitute one of the biggest solar power fields in Europe or Central Asia.

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(News report from Issue No. 333, published on June 19 2017)

 

Kazakhstan halves Karachaganak cost expansion

JUNE 16 2017 (The Bulletin) — Kazakh officials said that the cost of extending production at the Karachagank gas condensate field had halved. Murat Zhurebekov, chief executive of PSA LLC, a unit of state energy firm Kazmunaigas, said that the cost of boosting production at Karachagank had halved from an earlier estimate of $9b. He didn’t explain why this estimate had been reduced, although he did say that it was linked to low oil prices. Eni and Royal Dutch Shell each own 29.25% of Karachaganak. Kazmunaigas owns 10%, Chevron 18% and Lukoil 13.5%.

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(News report from Issue No. 333, published on June 19 2017)

 

Road accidents cost billions in Kazakhstan

JUNE 14 2017 (The Bulletin) — Road accidents in Kazakhstan are denting its economic potential and will hold back China’s much- vaunted “One Belt, One Road” trade initiative to links East Asia with Europe via Central Asia, the Washington-based Centre for Strategic and International Studies said in a new report. It estimated that traffic accidents cost Kazakhstan $9b a year, the equivalent of 4% of GDP.

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(News report from Issue No. 333, published on June 19 2017)

Kazakhstan does not receive special treatment over IBA debt

JUNE 13 2017 (The Bulletin) — Kazakhstan’s Central Bank will not receive preferential treatment from Azerbaijan’s majority state-owned IBA bank when it restructures its debt, a source close to the negotiations told Reuters. Kazakhstan’s state pension fund bought $250m worth of IBA debt in 2014 just as the oil price started to fall. Earlier this year it said that it was having to restructure debt totaling $3.3b. Most creditors face losing 20% of their investments.

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(News report from Issue No. 333, published on June 19 2017)

 

Uzbekistan considers weapons purchase

JUNE 15 2017 (The Bulletin) — Uzbek defence minister Atabek Ibadullayev travelled to Kazakhstan to tour weapons plants in Uralsk which produce armoured vehicles and optical rifles sites. Kazakhstan’s ministry of defence then released a statement which said that although Uzbekistan hadn’t yet purchased any weapons, Mr Ibadullayev had expressed an interest. Kazakh-Uzbek military ties are improving.

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(News report from Issue No. 333, published on June 19 2017)

 

Russia conducts missile test in Kazakhstan

JUNE 16 2017 (The Bulletin) — Russia’s military carried out a successful test on its new interceptor missile at the Sary-Shagan missile test site in Kazakhstan, the TASS news agency reported. Russia and Kazakhstan have boosted military cooperation over the past few years, including sharing a missile defence system. TASS quoted a Russian defence report as saying that the new missile will improve Russia’s defences.

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(News report from Issue No. 333, published on June 19 2017)

 

Kazakhstan signs deal with DP World

JUNE 16 2017 (The Bulletin) — Dubai’s DP World signed a deal with the Kazakh government to help develop a communication system between, and within, its various ports, a plan aimed at improving efficiency, media reported. No value was put on the deal and its exact specifics are not known but reports said the system is tried and tested and should help free up time and procedures at customs points. Kazakhstan is upgrading its trade infrastructure ahead of an expected increase in trade linked to China’s “One Belt, One Road” strategy.

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Copyright ©Central Asia & South Caucasus Bulletin — all rights reserved

(News report from Issue No. 333, published on June 19 2017)

 

Comment: Don’t ignore Kazakh rights abuse

JUNE 19 2017 (The Bulletin) — Kazakhstan sees EXPO-2017 in Astana as a “showcase to the international community”.

The country has come a long way economically since 1991 but with President Nursultan Nazarbayev in power for 25 years, it has not had an election that could be considered free and fair by independent monitors. The government restricts fundamental freedoms and has become increasingly intolerant of any sort of display of discontent.

In recent years, Kazakh authorities have increased their heavy-handed response to peaceful protest, imprisoned activists and journalists on politically motivated charges, and shut down critical media outlets.

Foreign investors – many of whom recognise the importance of upholding international labour standards – should note that while the government claims it promotes social partnership, it has decimated Kazakhstan’s independent trade union movement and drawn repeated criticism from the International Labour Organisation.

Kazakhstan aspires to be one of the top 30 most developed countries by 2050 and to join the Organisation for Economic Co- operation and Development (OECD). No one can fault Astana for seeking out opportunities like EXPO 2017, but the government’s rights-violating policies are an impediment to such aspirations.

By Mihra Rittmann, Central Asia researcher at Human Rights Watch

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Copyright ©Central Asia & South Caucasus Bulletin — all rights reserved

(News report from Issue No. 333, published on June 19 2017)