Major Kazakhstan projects involving Lukoil excluded from U.S. sanctions

Tengrinews.kz – Large oil and gas projects in Kazakhstan involving the Russian company Lukoil have been exempted from U.S. sanctions, Energy Minister Yerlan Akkhenzhenov announced.

According to the minister, Kazakhstan’s key operators continue to function normally.

“Two days ago, we received an exemption for the KPO project: Karachaganak Petroleum Operating B.V. was removed from the list of U.S. sanctioned assets, as were Tengizchevroil and the Caspian Pipeline Consortium. Therefore, nothing threatens the operational activities of Kazakhstan’s major projects at this time. We are working as we always have and will continue to do so,” Akkhenzhenov stated.

Responding to questions about Lukoil’s assets, the minister clarified that the Kazakh government is not participating in any negotiations to purchase them.

“The government is not conducting talks on acquiring Lukoil’s assets. The issue regarding Lukoil’s assets has been postponed until mid-December. During this period, the company must take all necessary steps related to its business operations,” he added.

Earlier, it was reported that the United States would lift sanctions from CPC, Tengizchevroil, and Karachaganak.