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Gazprom, Kazakhstan review gas ties

Nov. 5, 2012 at 7:25 AM

MOSCOW, Nov. 5 (UPI) -- Russian energy company Gazprom said it stressed the importance of natural gas supplies to Kazakh consumers during talks at the ministerial level.

Gazprom Chief Executive Officer Alexei Miller met with Kazakh Oil and Gas Minister Sauat Mynbayev in Moscow. Gazprom, through its joint venture KazRosGaz, purchases and processes natural gas for domestic and international sales.

"The parties discussed a wide range of issues associated with cooperation between Russia and Kazakhstan in the oil and gas sector," Gazprom said in a statement.

"Particular attention was given to the issues of natural gas supplies to consumers of the republic of Kazakhstan."

Gazprom says there are an estimated 116 trillion cubic feet worth of explored natural gas reserves in Kazakhstan.

Apart from gas reserves, it's estimated that Kazakhstan holds roughly 3 percent of the world's recoverable oil reserves. Companies there could deliver oil through existing pipeline networks to Russia or by ship through the Caspian Sea and onto Mediterranean ports.

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