Officials from Kazakhstan and Russia have agreed to resume negotiations on the development of two large gas fields, Khvalynskoye and Imashevskoye, located in Kazakhstan’s waters in the Caspian Sea.

The statement was made at a recent meeting between Kazakhstan’s Deputy Energy Minister Magzum Mirzagaliyev and Alexey Miller, chairman of Gazprom’s management committee, held in St. Petersburg.

“We have taken a course towards the active development of oil and gas fields with emphasis on gas processing,” Mirzagaliyev said, quoted by the press service of the Kazakh energy ministry at the meeting. . “To this end, we have developed a number of fiscal and regulatory preferences that stimulate exploration and production of hydrocarbons. “

“In recent years, gas consumption within the country has increased sharply and will grow steadily, given the switch from coal to gas, as well as the development of gas chemistry,” the statement read. of the ministry released Thursday.

The Russian energy giant has an interest in the projects, Miller said, expressing Gazprom’s willingness to continue the process of negotiating the terms of participation in these projects. During the meeting, the parties also drew attention to the economic efficiency of projects and export expansion opportunities.

The development of the Khvalynskoye and Imashevskoye fields is important for Kazakhstan’s energy security, as gas production from these fields is intended to boost domestic gas supply and provide additional volumes for better oil recovery. Together, these two fields are expected to supply more than 432 billion cubic meters of gas.

Discovered in 2002, the Khvalynskoye oil and gas field is located in the Kazakhstan sector in the northern part of the Caspian Sea, approximately 260 kilometers from Astrakhan, Russia. The geological reserves of the Khvalynskoye field have been estimated at around 332 billion cubic meters of gas.

The project is being jointly developed by the Kazakh state-owned company KazMunayGas (KMG) and the Russian oil giant Lukoil, as part of a joint venture formed in 2005. Lukoil has a 50% stake in the project, while KMG has found with a share of 25% after Total. (17%) and GDF-Suez (8%) take over 25% of the project.

The Imashevskoye gas and condensate field, with reserves estimated at 100 billion cubic meters of gas, is located on the border between Russia and Kazakhstan. In 2010, Russia and Kazakhstan signed an intergovernmental agreement on joint geological prospecting and exploration of the Imashevskoye field. Gazprom and KazMunayGas National Company are authorized to carry out field operations.

The oil and gas industries are the main pillars of Moscow and Nour-Sultan, as Russia and Kazakhstan are teeming with hydrocarbons. The two post-Soviet countries have maintained strong partnerships in the energy sector through already existing narrow economic, technological and transport initiatives.

The use of gas as a cleaner type of fuel is among the most important guidelines set by Kazakhstan in the protection of the environment, the process of transition to carbon neutrality, the achievement of a zero emissions balance. In order to increase the attractiveness of the investments of the gas industry in Kazakhstan, a number of systemic measures are taken, new market approaches to gas pricing have been identified.

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