• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.09955 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.09955 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.09955 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.09955 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.09955 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.09955 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.09955 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00193 -0%
  • TJS/USD = 0.09955 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%

Viewing results 1 - 6 of 17

Kazakhstan Balances OPEC+ Compliance with Bold 2025 Oil Surge

Kazakhstan has reaffirmed its commitment to the OPEC+ agreement on oil production volumes while simultaneously planning to increase production in 2025, signaling a growing influence on the international cartel despite not being a member. In February, Kazakhstan’s Energy Ministry issued a statement confirming its adherence to the OPEC+ agreement. “Kazakhstan will take the necessary measures in 2025 and 2026 to fulfill its commitments and compensate for overproduction in 2024,” the statement read. The government acknowledged that production would increase in 2024 due to the expansion of the Tengiz field but emphasized the importance of honoring OPEC+ commitments. Kazakhstan also pledged to engage in negotiations within the framework of international law. In March, major oil producers, including ExxonMobil, Total, and Shell, agreed to reduce oil production in Kazakhstan to align with OPEC+ requirements. “We have set quite a serious task for them to reduce oil production in Kazakhstan to achieve the planned parameters. The conversation was productive, and we did not receive any refusals,” Energy Minister Almasadam Satkaliyev stated. Similar assurances were made in April 2024, even after the country exceeded its March quota by 131,000 barrels per day. Planned Production Increase Despite these commitments, Kazakhstan plans to produce over 96.2 million tons of oil and gas condensate in 2025, marking a 9.7% increase from the previous year’s 87.7 million tons. According to Energy Minister Satkaliyev, Atyrau Region is expected to produce 57.4 million tons (+9.1%), Mangistau Region 17.8 million tons (+7.2%), West Kazakhstan Region 12.9 million tons (+4.9%), while Aktobe Region’s output is projected to decline slightly to 4.7 million tons (-2.1%). Industry experts note that this decision has caused friction with OPEC+ members, particularly Saudi Arabia. Oleg Chervinsky, a columnist for the Oil and Gas of Kazakhstan. Facts and Comments Telegram channel attributes the production increase primarily to the expansion of the Tengiz field, which is set to begin operations in the second quarter of 2025 with investments totaling $533 million. Additional investments of $144 million are being made at Karachaganak, while work continues on the offshore Kalamkas-Sea-Khazar project. Kazakhstan’s Growing Influence Chervinsky argues that Kazakhstan has become a key player in OPEC+ despite its non-membership. In March, OPEC+ decided to increase oil production from April by approximately 138,000 barrels per day, the first such decision since 2022. The move came amid sluggish global demand and U.S. President Donald Trump’s calls for Saudi Arabia to boost production. According to Reuters, Kazakhstan’s excess production played a significant role in OPEC+’s decision. Three sources within the cartel reported that several OPEC+ members, including Saudi Arabia, were “outraged” by Kazakhstan’s record-breaking production levels and demanded that the country compensate for the overproduction. However, as Chervinsky points out, the cartel has no direct enforcement mechanisms over Kazakhstan, and the government remains committed to its plan to increase production by nearly 10% in 2025. With its ability to influence OPEC+ decisions while maintaining production independence, Kazakhstan is emerging as an increasingly formidable player in the global oil market.

Chinese Company to Build Waste Recycling Plant in Osh

China’s Hunan Junxin Huanbao KG Invest will build a solid waste incineration plant in Osh, Kyrgyzstan’s second-largest city, as part of a project to generate electricity from municipal waste. According to the Osh municipality, Mayor Jenyshbek Toktorbayev signed an agreement with the Chinese company during his visit to Changsha, the capital of China’s Hunan Province, in early March. The agreement includes the preparation of a feasibility study, with construction set to begin in the coming months. The project is expected to cost $90 million. Similar Project Underway in Bishkek The Times of Central Asia reported that Hunan Junxin Huanbao KG Invest is already implementing a similar waste recycling project in Bishkek, Kyrgyzstan’s capital. The company is currently constructing a solid waste recycling plant at Bishkek’s sanitary landfill. The facility will generate electricity by incinerating municipal solid waste. In its initial phase, the plant will process 1,000 tons of waste per day, with plans to expand capacity to 3,000 tons daily. The project’s total investment is estimated at $95 million, with construction expected to be completed by December 2025. Addressing Kyrgyzstan’s Waste Crisis Solid waste management has been a long-standing challenge in Kyrgyzstan, particularly in its largest cities, Bishkek and Osh. The construction of modern recycling plants marks a significant step toward tackling waste issues while simultaneously contributing to sustainable energy production.

Turkmenistan to Supply Gas to Turkey Through Swap Deal Starting March 1

Turkmenistan will begin supplying 1.3 billion cubic meters of natural gas to Turkey on March 1 through a swap agreement, according to Oğuzhan Akyener, President of the Turkish Center for Research on Energy Strategies and Policies (TESPAM). Akyener discussed the deal in an interview with News.Az on February 24. Under the agreement, Turkmenistan will send gas to Iran, which will then transfer an equivalent amount to Turkey. Iran will consume Turkmen gas in its northeastern regions, freeing up its own supply for Turkey. Akyener noted that other potential routes for transporting Turkmen gas were considered but faced infrastructure and logistical challenges: Via Azerbaijan: This would require new pipelines from Turkmenistan to Baku and an expansion of the South Caucasus Pipeline (SCPx). Via Russia: The Western Line (Batı Hattı), which could have been used, is not operational. Through Turkey's TurkStream or Blue Stream pipelines: These remain possible alternatives, provided there is available capacity. Turkey aims to position itself as a major energy hub, Akyener explained. The country has significantly expanded its gas infrastructure, diversified its supply sources, and introduced regulations to allow the re-export of imported gas. According to TESPAM, with the right investments, Turkey could increase gas imports from: Turkmenistan – up to 65 billion cubic meters Azerbaijan – 15 billion cubic meters Kazakhstan – 10 billion cubic meters Uzbekistan – 15 billion cubic meters Iraq – 58 billion cubic meters Eastern Mediterranean – 25 billion cubic meters These developments could boost Turkey’s annual gas trade capacity to 300 billion cubic meters, further solidifying its role in global energy markets. Despite holding some of the world’s largest natural gas reserves, Turkmenistan exports only about 40 billion cubic meters of gas per year, with 35-36 billion cubic meters going to China. However, Turkmenistan faces economic risks due to China’s control over pricing, leading it to seek new buyers and diversify exports. Turkmenistan is exploring options to supply gas to Europe, following Azerbaijan’s model to gain European political support. However, alternative export routes face significant challenges. One such route is the TAPI Pipeline (Turkmenistan-Afghanistan-Pakistan-India), a long-planned project that has been delayed due to political and security issues. Ongoing conflicts between Afghanistan and Pakistan, along with tensions between Pakistan and India, have stalled progress. Additionally, China has been accused of using its influence to prevent the pipeline’s completion. Given these obstacles, Akyener believes Turkey remains the most realistic and viable export destination for Turkmenistan’s gas. Strengthening energy cooperation between the two nations could deepen economic and political ties among Turkic-speaking countries and further integrate them into the global energy market.

Uzbekistan and Pakistan Agree to Increase Trade Volume by $2 Billion

Uzbekistan and Pakistan have agreed to expand trade, transport, and cultural cooperation, following talks between Uzbek President Shavkat Mirziyoyev and Pakistani Prime Minister Shehbaz Sharif in Tashkent on February 26. During the meeting, both leaders expressed satisfaction with the growing bilateral relationship. In 2024, trade volume between the two countries exceeded $400 million, and the number of joint ventures reached 130. Additionally, direct flights between Tashkent and Lahore have been resumed. The two sides discussed plans to boost trade to $2 billion and simplify customs procedures under a recently adopted roadmap. Key areas of cooperation include pharmaceuticals, agriculture, mining, and textiles. Transport connectivity was a major focus of the discussions. Freight traffic through the Uzbekistan-Afghanistan-Pakistan corridor has increased fivefold in recent years, and the two countries agreed to establish a joint transport and logistics company. They also pledged to advance the Trans-Afghanistan railway project, which aims to enhance regional trade routes. The two governments also committed to expanding cultural and educational exchanges. Agreements were reached on mutual cultural weeks, tourism development, and cooperation in science, technology, youth policy, and security. To strengthen long-term cooperation, Uzbekistan and Pakistan will establish a High Council for Strategic Partnership, with its first meeting scheduled for next year.

Uzbekistan and Taliban Agree on Hairatan-Herat Railway Project

Taliban Deputy Chief Minister Abdul Ghani Baradar announced that construction on the planned Hairatan-Herat railway would begin within 10 days of a feasibility study, which Uzbekistan will finance. He also stated that Uzbekistan had agreed to reduce the cost of a power transmission line project to Afghanistan by $30 million, lowering the total to $222 million, Amu TV reports. The announcement followed Baradar’s two-day visit to Uzbekistan. The railway project aims to extend the existing line from Hairatan, a key trade hub on the Uzbekistan-Afghanistan border, through Mazar-e-Sharif and on to Herat. The first phase, a 75-kilometer section from Hairatan to Mazar-e-Sharif, was completed in 2010 with funding from the Asian Development Bank. The planned extension is expected to enhance trade links between Central Asia and the Middle East. During the visit, Baradar and his delegation met with Uzbek Prime Minister Abdulla Aripov and Deputy Prime Minister Jamshid Khodjayev to discuss trade, energy, aviation, and infrastructure. Baradar stated that Uzbekistan had agreed to increase electricity exports to Afghanistan during the summer and reduce tariffs. Taliban Commerce Minister Nooruddin Azizi added that discussions also covered trade and banking cooperation, as well as a potential railway extension from Hairatan to Spin Boldak. Additionally, Uzbekistan will lift restrictions on Afghan agricultural exports and establish four trade centers in major cities across both countries. Aripov visited Kabul last August for talks focused on boosting trade, strengthening energy cooperation, and collaborating on copper, iron, oil, and gas projects. Both sides agreed that trade between Uzbekistan and Afghanistan could reach $1 billion in 2024 and expand to $3 billion in the near future.