Kazakhstan, China Ink $3.7 Billion Deals, Deepen Energy Ties

Kazakhstan and China solidified their economic ties by signing over 40 agreements worth $3.7 billion (1.75 trillion tenge) during the Kazakh-Chinese Business Council meeting in Astana, according to Kazinform.The meeting was attended by more than 500 business representatives, including over 50 of China’s largest companies. The signed agreements include deals, heavily focused on expanding energy cooperation between the two nations. Key deals include:• Agreement between Samruk-Kazyna JSC and Sany Renewables Energy on the production of wind components
• Memorandum of Understanding between Samruk-Kazyna JSC and China Energy Overseas Investment Co., Ltd.
• Framework Agreement between Samruk-Kazyna JSC and CNPC
• Framework Agreement between the Ministry of Energy of Kazakhstan and CNPC
• A framework agreement between KazMunaiGas and CNPC to deepen strategic cooperation in the oil and gas industry. [the parties intend to explore prospects for cooperation in petrochemical projects, as well as oil and gas exploration and production in the Caspian sedimentary basin, and exploration of new subsurface areas]
• Trilateral Protocol between the participants in relation to the Sileno project between KazMunayGas JSC, Sinopec (China) and SIBUR (Russia) [the Sileno project provides for the construction of the first integrated gas chemical complex for the production of polyethylene with a capacity of 1.25 million tons in the Atyrau region.]
• KazMunaiGas and Chinese HY signed a Memorandum of Understanding [The companies intend to explore opportunities for joint exploration and development of oil and gas fields, including conducting comprehensive geological studies in deep-lying promising areas]
• Memorandum of Cooperation between KEGOC JSC (Kazakhstan Electric Grid Management Company) and China Energy International Group
• A four-party agreement between the Mayor’s Office of Astana, the construction company Bazis-A, as well as the Chinese Shenzhen energy environment and China State Construction Engineering Corporation on the construction of an incinerator to generate electricity in Astana.
• Cooperation Agreement between Samruk-Energy JSC and China International Water & Electric Corp. (CWE)The agreements extend beyond the energy sector, encompassing transportation and communication. These include deals on locomotive supply, investing in a container hub at the port of Aktau, postal cooperation, e-commerce development, a trilateral agreement paves the way for a unified digital corridor along the China-Kazakhstan-Russia route. ///nCa, 3 July 2024 Related posts:

• Kazakhstan
• economic ties
• China
• energy cooperation
• agreements
• business council