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China's involvement only 22%, no reasons for panic: Mynbayev

27 may 2011, 15:00
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Sauat Mynbayev
Sauat Mynbayev
Kazakhstan Minister of Oil and Gas Sauat Mynbayev said that the community is right about raising the issue of control of foreign companies in Kazakhstan. But this is applicable to all countries, not only China, Tengrinews.kz reports from the roundtable meeting on investments in Kazakhstan held in Almaty.

The Minister assured that there is no ground for panic. Sauat Mynbayev said China's involvement is Kazakhstan's oil and gas industry makes only 22 percent.

“We have to understand that China is a large market. And the demands that it should not be present in Kazakhstan is quite incorrect,” the Minister said. He agreed that Europe is a key destination for Kazakhstan's oil and gas, but there are some limitations there. In this context, Mynbayev said, cooperation with China opens new doors.

The Minister of Oil and Gas emphasized that money alone cannot guarantee efficiency of oil and gas industry. That is why investments are not just the source of funds, but also a good opportunity to gain new experience, adopt new technologies and get training.

"We can do without investments in oil and gas even with a lot of money available,” Sauat Mynbayev said.

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