Gazprom reviews Kazakh gas potential

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MOSCOW, March 20 (UPI) -- Russian energy company Gazprom said it wants to work with the Kazakh government to help exploit its natural gas resources.

Gazprom estimates that explored natural gas reserves in Kazakhstan are around 116 trillion cubic feet. When considering offshore reserve potential in the Caspian Sea, that estimate tops 280 trillion cubic feet of natural gas.

Gazprom Chairman Alexei Miller hosted Kazakh Oil and Gas Minister Sauat Mynbayev at his Moscow office to discuss opportunities for bilateral collaboration.

"The parties discussed prospects for bilateral cooperation in the energy sector, including the implementation of joint projects in hydrocarbon exploration, production, processing and marketing," a company statement read.

Mynbayev in February said Astana was looking for new partners to develop its territorial waters.

Kazakhstan is the second-largest oil producer among former members of the Soviet Union. The Abay field is said to hold at least 2 billion barrels of oil. Much of the country's natural gas reserves are associated with oil.

Gazprom, through its joint venture KazRosGaz, purchases and processes natural gas for domestic and international sales.