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Kazakhstan and India mulling a joint gas pipeline

30 april 2014, 09:25
0
Photo courtesy of gazeta.ru
Photo courtesy of gazeta.ru

Kazakhstan and India are mulling a gas pipeline to link the two nations, Tengrinews.kz reports, citing the country’s Foreign Ministry.

“India’s suggestion to launch a joint working group to study possibilities of laying a gas pipeline from Shymkent in the South of Kazakhstan to the Indian border has been welcome by the Kazakh side”, according to the statement issued following the 11th sitting of the intergovernmental committee for trade and economic, science, and culture cooperation.

The Kazakh delegation is headed by Magzum Mirzagaliyev, Oil Vice Minister, with the Indian side being headed by oil secretary Saurabh Chandra. The sides highlighted that Kazakhstan is responsible for half of the trade turnover between India and Central Asia. The bilateral trade turnover grew from $120 million back in 2005 to $500 million in 2012. In 2013 the figure reached $676.9 million.

The sides have agreed to expand cooperation in geological exploration of hydrocarbons in Kazakhstan. India showed its interest in participating in the Eurasian project to develop oil and gas fields in the North of the Caspian Sea. In particular, ONGC Videsh Limited (OVL), the flagship national oil company of India, expressed its desire to participate. Currently the Company in partnership with KazMunaiGas is preparing to start drilling in Satpayev block.

Besides, Indian specialists suggested considering cooperation in the area of renewable sources of energy and peaceful use of nuclear power.

The sides also expressed interest in boosting reciprocal tourism. As of now Kazakhstan accommodates over 500 JVs, with 190 of them fully relying on the Indian capital.
 


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