China and Kazakhstan agree deals on gas, nuclear energy
Source: Agencies |
June 13, 2010, Sunday
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Print Edition
Print Edition
China and Kazakhstan yesterday agreed to build and finance a gas pipeline and deepen atomic energy ties.
President Hu Jintao and Kazakh leader Nursultan Nazarbayev presided over the deals between state companies that give China greater access to resources and allow Kazakhstan, Central Asia's biggest economy, to diversify its energy exports.
"Thanks to our joint strengths, Sino-Kazakh relations will undoubtedly reach new levels," Hu said after meeting Nazarbayev.
State companies KazMunaiGas and China National Petroleum Corporation agreed to build and finance the Kazakh leg of a natural gas pipeline network.
The US$3 billion to US$3.5 billion investment will be shared equally.
The Beyneu-Shymkent pipeline will join a larger pipeline that snakes 1,833 kilometers across Central Asia from a gas field developed by China in eastern Turkmenistan.
Hu opened the larger pipeline in December.
KazMunaiGas President Kairgeldy Kabyldin said the Kazakh pipeline would have capacity of 15 billion cubic metres. A first stage, to be completed by the start of 2014, would have the capacity to deliver 10bcm.
Kabyldin said the pipeline would allow Kazakhstan to provide energy security for its southern regions, an area that currently relies heavily on gas from neighboring Uzbekistan.
"Secondly, it will allow us to diversify our export options. Today we are exporting gas only via (Russian state company) Gazprom," he said.
The bigger Central Asia-China route will have capacity to deliver 40 billion cubic meters when it is completed in 2013 or 2014.
Chinese firms have already established a foothold in Kazakhstan. Among recent deals, China Development Bank agreed last year to lend up to US$2.7 billion to copper miner Kazakhmys and CNPC tied up with KazMunaiGas in a US$2.6 billion deal to take over oil firm MangistauMunaiGas.
Kazakhstan, which last year surpassed Canada to become the world's largest uranium miner, will also increase shipments to China after its state nuclear company agreed a supply contract yesterday during the presidential visit.
Kazatomprom will supply uranium to the China Guangdong Nuclear Power Corporation, details of which were not disclosed.
The corporation -- which operates over 40 percent of China's nuclear power generating capacity -- said last year that it would develop a uranium deposit in Kazakhstan with reserves of 40,000 tons together with Kazatomprom.
A third agreement signed yesterday will allow for cooperation between Kazakhstan and China on the peaceful development of nuclear energy.
The World Nuclear Association says there are 439 nuclear reactors operating worldwide today. Plans exist to construct 57 more.
President Hu Jintao and Kazakh leader Nursultan Nazarbayev presided over the deals between state companies that give China greater access to resources and allow Kazakhstan, Central Asia's biggest economy, to diversify its energy exports.
"Thanks to our joint strengths, Sino-Kazakh relations will undoubtedly reach new levels," Hu said after meeting Nazarbayev.
State companies KazMunaiGas and China National Petroleum Corporation agreed to build and finance the Kazakh leg of a natural gas pipeline network.
The US$3 billion to US$3.5 billion investment will be shared equally.
The Beyneu-Shymkent pipeline will join a larger pipeline that snakes 1,833 kilometers across Central Asia from a gas field developed by China in eastern Turkmenistan.
Hu opened the larger pipeline in December.
KazMunaiGas President Kairgeldy Kabyldin said the Kazakh pipeline would have capacity of 15 billion cubic metres. A first stage, to be completed by the start of 2014, would have the capacity to deliver 10bcm.
Kabyldin said the pipeline would allow Kazakhstan to provide energy security for its southern regions, an area that currently relies heavily on gas from neighboring Uzbekistan.
"Secondly, it will allow us to diversify our export options. Today we are exporting gas only via (Russian state company) Gazprom," he said.
The bigger Central Asia-China route will have capacity to deliver 40 billion cubic meters when it is completed in 2013 or 2014.
Chinese firms have already established a foothold in Kazakhstan. Among recent deals, China Development Bank agreed last year to lend up to US$2.7 billion to copper miner Kazakhmys and CNPC tied up with KazMunaiGas in a US$2.6 billion deal to take over oil firm MangistauMunaiGas.
Kazakhstan, which last year surpassed Canada to become the world's largest uranium miner, will also increase shipments to China after its state nuclear company agreed a supply contract yesterday during the presidential visit.
Kazatomprom will supply uranium to the China Guangdong Nuclear Power Corporation, details of which were not disclosed.
The corporation -- which operates over 40 percent of China's nuclear power generating capacity -- said last year that it would develop a uranium deposit in Kazakhstan with reserves of 40,000 tons together with Kazatomprom.
A third agreement signed yesterday will allow for cooperation between Kazakhstan and China on the peaceful development of nuclear energy.
The World Nuclear Association says there are 439 nuclear reactors operating worldwide today. Plans exist to construct 57 more.
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