Kazakhstan Business & Economy - The Times Of Central Asia

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Kazakhstan Freezes Transit Cost of Russian Oil To China

KazTransOil JSC, Kazakhstan’s national oil pipeline operator, on January 26th said it will freeze the cost of transiting Russian oil to China until 2034. Until December 31st 2033 the cost of transporting Russian oil to China through the territory of Kazakhstan will amount to $15 per ton (excluding VAT), the company said. KazTransOil also said it has extended until December 31st 2033 its contract with Russia’s Rosneft oil company for the transportation of Russian oil through Kazakhstan to China. From 2014-2023, KazTransOil transported 91 million tons of Russian oil to China along the Atasu–Alashankou oil pipeline, which is part of the Kazakhstan-China main oil pipeline system and belongs to Kazakhstan-China Pipeline LLP, a joint venture of KazTransOil JSC (50%) and China National Oil and Gas Exploration and Development Company Ltd (50%). The design capacity of the Atasu–Alashankou pipeline is 20 million tons of oil per year. Russia has been seeking to increase its oil exports to China after western sanctions were imposed on its exports over its invasion of Ukraine.

Central Asia Environment Kazakhstan Kazakhstan Business & Economy

Croatia To Transport Kazakh Oil To European Markets

On January 24th a memorandum of understanding was signed in Zagreb, Croatia between Kazakhstan’s national oil and gas company KazMunayGas (KMG) and the operator of the Croatian oil pipeline system, Jadranski naftovod (JANAF). The memorandum was signed by the deputy chairman of KMG, Bulat Zakirov, and the chairman of JANAF, Stjepan Adanić. After the signing ceremony Mr. Adanić commented that the deal will strengthen exports of Kazakh oil to European markets. Kazakhstan's ambassador to Croatia Akylbek Kamaldinov, who attended the signing ceremony, emphasized that Kazakhstan is playing an important role in ensuring that the EU receives reliable supplies of energy resources. He noted that the partnership between KMG and JANAF will make a significant contribution to strengthening energy security. JANAF operates the oil terminal on the island of Krk and the Adria oil pipeline system in Croatia, which plays a key role in transporting oil and petroleum products to the countries of south-eastern Europe. From January-November 2023 more than $303 million worth of Kazakh oil was pumped along this route.

Central Asia Kazakhstan Kazakhstan Business & Economy

Astana Motors To Build New Plant In Almaty

On January 25th Kazakhstan's president Kassym-Jomart Tokayev received the founder of Astana Motors, Nurlan Smagulov, who informed him about his company’s plans for the automotive industry in Kazakhstan, the president’s press office reported. Mr Smagulov reported that in 2023 Hyundai Trans Kazakhstan and Hyundai Trans Almaty, subsidiaries of Astana Motors, manufactured 48,857 passenger cars and 981 commercial vehicles. Mr Smagulov told the president that the construction of the Astana Motors Manufacturing Kazakhstan multi-brand plant in Almaty, for the production of China’s Chery, GWM (Haval), and Changan vehicles, is scheduled to be completed in February 2025. The plant's capacity will be 90,000 vehicles per year. Of these, 60% will go for export. In September 2022 Astana Motors signed memoranda with Chinese automobile concerns Chery Automobile Company, Changan International Corporation, and Great Wall Motor, allowing it to manufacture these companies' cars in Kazakhstan.

Central Asia Uzbekistan Tajikistan Tajikistan Business Economy Kyrgyzstan Uzbekistan Business & Economy Kazakhstan Business & Economy Kyrgyzstan Business & Economy Kazakhstan Business & Economy

EBRD Invested More Than €1.2bn In Central Asian Economies In 2023

The European Bank for Reconstruction and Development (EBRD) says it invested more than €1.2bn ($1.3bn) in projects across Central Asia in 2023 to stimulate the region’s sustainable growth. Uzbekistan remained the leading recipient of EBRD funding in the region for the fourth year running, attracting more than €700m ($760m). The remaining €518m ($560m) were channeled to support projects in Kazakhstan, Kyrgyzstan, Mongolia, and Tajikistan. In Uzbekistan, the EBRD continued investing in renewable energy power generation and low-carbon technologies. It financed the construction of three greenfield solar power plants with a total installed capacity of nearly 900 MW. The bank provided funds to ACWA Power Wind Karatau to finance the construction of a 100 MW wind power plant in the autonomous republic of Karakalpakstan. It also provided a sovereign loan to modernise 118 pumping stations and improve the sustainability of water supply for irrigation in the densely populated Fergana Valley. Samarkand became the first city in the country to join the EBRD Green Cities programme, and is planning to deploy ecologically friendly electric buses as part of this engagement. In the financial sector, the bank continued working with local financial intermediaries such as SQB, Hamkorbank and Ipak Yuli Bank to support SMEs and promote green lending. Highlights of the EBRD’s work in Kazakhstan include the launch of the GEFF Kazakhstan II and an investment in a local currency bond issued by the country’s transmission system operator, KEGOC. The funds will help make the country’s electrical grid more sustainable and reliable. The bank’s loan to China Power International Holding and Visor International will be used to build, operate and connect the 100 MW Shokpar wind power plant to the transmission grid. The EBRD’s loan to Kazakhstan’s largest private rolling stock operator, Eastcomtrans, will help expand container-handling capacity at one of the most congested junctions near Almaty and address the issue of bottlenecks along the Trans-Caspian corridor. Last year marked the completion of the street lighting system in Ust-Kamenogorsk (Oskemen), which allowed energy-efficient LED street lights to be installed on 150 streets. In the financial sector, the bank extended a new loan to the country’s leading microlender KMF to support green lending and women’s entrepreneurship. In Kyrgyzstan, the EBRD supported the modernisation of water supply services in the Batken and Jalal-Abad oblasts. The bank signed a number of sovereign projects aimed at modernising key transport and energy infrastructure, which will help improve the country’s connectivity and climate resilience. These projects included loans to upgrade a 30km section of the Issyk-Kul Lake ring road, increase the reliability of the national electricity transmission and distribution grid, and rehabilitate and modernise the Lebedinovskaya hydropower plant. The EBRD also completed the Bishkek landfill project last year, which will provide major environmental benefits for the more than one million people living in the country’s capital. The completion of three infrastructure projects in Tajikistan allowed more than 400,000 people in 13 municipalities across the country to enjoy better access to clean and safe drinking water. Last year the EBRD launched the GEFF Tajikistan II and extended new GEFF loans to Bank...

Central Asia Kazakhstan Business & Economy Kazakhstan Business & Economy

Digital Almaty Forum To Be Held In February

From February 1st to 3rd Kazakhstan’s business capital, Almaty, will host the Digital Almaty 2024 forum, entitled "Industry X: The Digital Development of the Future". Now in its sixth year, the forum will bring together government officials from Shanghai Cooperation Organization (SCO) and Eurasian Economic Union (EEU) countries, leading experts, and entrepreneurs from around the world, said the Kazakh Ministry of Digital Development, Innovation, and Aerospace Industry, one of the forum’s organizers. Ersultan Ermanov, director of the ministry’s Department for Development of the Information Technology Industry, said that international technology parks from Belarus, China, India, Iran, Kyrgyzstan, Russia, and Uzbekistan will participate in the Digital Almaty forum. “The participation of their delegations will help lay the foundation for future fruitful cooperation, discuss current trends in the field of digital technologies, as well as the possibilities of their application to solve social, economic and environmental problems. Such events have a very positive impact on the country’s image,” Mr Ermanov said. The forum will also include an exhibition of Kazakhstan’s largest subsoil users, technology parks, and technology companies, which will share experience and information about projects in the IT ecosystem. More than 30,000 people are expected to attend the three-day digital event. As part of the forum, an Industry 4.0 Startup Battle is planned for February 3rd — a large-scale battle for the title of the best industrial startup, with a total prize fund of $150,000. This year, startups will compete for the title of "Best Startups in Industry 4.0" in the areas of Digital Oil Field, ESG, and Smart Mining. The organizers of Digital Almaty 2024 are the Ministry of Digital Development, Innovation, and Aerospace of Kazakhstan, the Ministry of Foreign Affairs of Kazakhstan, Akimat (municipality) of Almaty, and Tech Garden.

Environment Central Asia Kazakhstan Environment Business & Economy Kazakhstan Business & Economy

EU Drives Increased Demand For Kazakh Coal

Kazakhstan will increase its production of coal in the period 2023-2029, the Kazakh Ministry of Industry and Construction has said, adding that the country exports around 28% of the total volume of coal it mines. In order to meet the demands of energy-producing and industrial enterprises, the ministry says it is working to increase coal production, as well as the country’s coal export potential. According to the National Bureau of Statistics of Kazakhstan, exports of hard coal and lignite have increased 6.5-fold, mainly due to the growing demand for Kazakh coal from the countries of the European Union. The embargo on Russian coal exports to European countries, introduced in the EU from August 2022, has created a good opportunity for Kazakhstan to significantly increase its coal exports to Europe.