WASHINGTON, Nov. 30 (UPI) -- Oil India to build refinery in Turkey
Kazakhstan's state-owned KazMunayGas has invited Oil India to construct a refinery in Turkey.
Officials from KazMunayGas and the government of Turkey are holding talks about constructing a refinery near the Ceyhan port, Shukhrat Danbay, the executive director of KazMunayGas's oil processing and petrochemical department, said in Russia Thursday.
Under the proposed plan, the $4.9 billion refinery will have a capacity of 15 million tons and include a petrochemical complex.
"One of the partners is Oil India," Danbay said. A Turkish partner is also expected to participate.
Kazakh President Nazarbaev reached an agreement to construct a refinery in Turkey with Kazakh investors during his visit to Turkey last May, Russian news agency Interfax reported.
"This agreement on construction of a refinery at the Black Sea in Turkey by Kazakhstani investors is very important. We shall be able to transport crude oil from Novorossisk to Turkey and sell there the processed product," Nazarbaev said in May.
EU secures energy supplies from Kazakhstan
Leaders from Kazakhstan and the European Union plan to ink two documents during Kazakh President Nursultan Nazarbaev's visit to Brussels.
The two sides expect to sign documents, Andris Pibalgs, European Commissar for Energy, said in an interview with Interfax- Kazakhstan.
The first document is a memorandum of cooperation in energy industry, which governs two areas of cooperation. The first relates to supplies of energy resources not only from Kazakhstan but worldwide.
"The second is related to investments in oil and gas as well as other sectors, particularly electric power industry, and studying capacities and efficiency of natural sources of energy, including wind," Pibalgs said.
"Another document to be signed during the visit of Kazakh leader covers nuclear power cooperation," Pibalgs saidd.
This document "enables direct cooperation in trading nuclear substances."
Pibalgs said he believes the upcoming meeting between Nazarbaev and European Commission Chairman Jose Manuel Barroso is a major milestone in EU-Kazakh relations.
Gazprom eyes assets in Greece, Bulgaria, Moldova
Russian gas natural gas behemoth Gazprom wants to acquire electricity assets in Greece, Bulgaria and Moldova, business daily Vedomosti reported, citing a senior official at Gazprom subsidiary Gazpromenergo.
Gazprom would do this through local joint ventures Overgas and Prometheus Gas respectively, said Yury Lukanin, head of foreign projects at Gazpromenergo, Gazprom's electricity subsidiary.
The proposed South-European gas pipeline project, which will cross both countries, became the driving force in Gazprom's interest in these countries, Lukanin said.
Moldova hopes to use this opportunity to clear some of its $1.4 billion debt owed to Gazprom by offering the Russian gas giant interests in three of its electricity assets.
Moldovan President Vladimir Voronin said Tuesday he held talks with Russian President Vladimir Putin regarding several investment projects involving Gazprom and other Russian companies.
Putin told reporters that he expected to secure a successful energy deal with Moldova soon, Interfax reported. "Relations will be built on a market basis, but within bounds that will satisfy both sides," he said.
In recent years, Gazprom has stepped up efforts to develop its holdings in Russia's electricity sector, a large consumer of its gas. It has also struck several deals to gain direct access to lucrative end-users in the European Union.
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Closing oil prices, Nov. 30, 3 p.m. London
Brent crude oil: $59.58
West Texas Intermediate crude oil: $58.92
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