Page 19 - FSUOGM Week 25

FSUOGM NEWS IN BRIEF FSUOGM

“Given the difficult period in the Russians will pay the Poles for overcharging 25% stakes in state-run companies once
global economy caused by the crisis, the for past gas supplies. again. The privatisations were originally
stable functioning of the Black Sea Trade The Russian company now seems to be meant to end by 2020. Kazakhstan has
and Development Bank and access to making moves to reduce the bill for past only managed to float stakes in world’s
its finances are especially important,” overcharging. largest uranium producer KazAtomProm
Ukrainian Deputy Minister of Economic “In line with the contract, the companies via three listings, leaving Samruk-Kazyna
Development, Trade and Agriculture Taras are in talks to revise [gas)] prices dating maintaining ownership of more than 75%
Kachka was quoted as saying by Interfax back to 2017. Gazprom Export [Gazprom’s of the firm’s shares.
Ukraine. overseas sales arm] believes there are The fund’s managing director,
“We welcome the fact that, despite the enough grounds to revise the price Almasadam Satkaliyev, also told a briefing
crisis, the bank continues to co-operate upwards,” the Russian company said, that a partial privatisation of the state-
with projects with a high potential in according to Reuters. owned railroad company, Kazakhstan Temir
public and private sectors, and supports the An arbitration court in Stockholm Zholy, will follow in 2023.
economic development of member states,” ruled in late March that Gazprom had
he added. been charging PGNiG too much for
Since the Black Sea Trade and gas under their long-term gas supply KMG reports oil flow in
Development Bank began operating contract. Gazprom said it would appeal
in Ukraine, 47 projects have been to international arbitration against paying Mangistau region
implemented for a total of €738.9mn. In back what it had overcharged.
particular, projects are concentrated in Kazakhstan’s KazMunayGas KMG announces
such areas as the consumer sector, financial the occurrence of a fountain oil flow during
institutions, industry, consumer goods, Belarus to buy 1.58mn t of geological exploration in the East Bekturly
utilities, telecommunications, energy, raw exploration block in Mangistau region.
materials and materials. oil from Russia in July A flow rate of up to 100 cubic metres
The Black Sea Trade and Development per day was recorded. Comprehensive
Bank is an international organisation Belarus plans to purchase 1.58 million geological and geophysical study of
uniting 11 states of the Organization of tonnes of oil from Russian companies in July, historical data, basin modeling, high-
the Black Sea Economic Co-operation. including 1.495 million tonnes by pipeline, tech seismic exploration and exploration
The bank aims to promote economic co- spokesman for Belneftekhim Alexander of East Bekturly-1 has been undertaken.
operation, trade and co-operation of the Tishchenko said on June 23. This resulted in the well being optimally
countries of the Black Sea region. “In the framework of the 2020 indicative placed, flowing oil from the Middle Jurassic
Founded in 1993, state-run Ukrgasbank balance, the Belarusian refineries will buy stratum.
is the country’s fourth largest lender. 1.58 million tonnes of oil from Russian oil Currently, a set of field geophysical and
Galnaftogaz is a chain of gas stations companies. Of this volume, 1.495mn tonnes hydrodynamic surveys is underway at the
branded as OKKO. The company will be delivered by the system of main well to obtain additional information on the
was founded in 2001 by a merger pipelines and 85,000 tonnes by railway,” the features of the oil and gas horizon.
of Ivanofrankivsknaftoprodukt, official said. The East Bekturly section is located in
Zakarpatnaftoprodukt–Uzhhorod, and He said that the rest of demand of the Karakiya district of Mangistau region,
Zakarpatnaftoprodukt–Khust. The OKKO Belarus will be covered by tanker supplies. close to the Uzen-Karamandybas, Zhetybay,
network has more than 400 gas stations. It Bekturly, East Zhetybay, Aktas and other
is the third largest gas station network in existing oil and gas fields. The project
Ukraine with a market share of over 17%. operator at the East Bekturly site is Becturly
Metinvest is Ukraine’s largest steel Energy Operating LLP, a jointly controlled
producer. CENTRAL ASIA & SOUTH organization KazMunayGas (KMG) (50%)
and Kokel Munai (50%).
CAUCASUS It should be noted that KMG adheres
Gazprom moves to Kazakhstan postpones to the requirements of financing in
cooperation with partners in the
retroactively raise gas plans to float stake in development of new fields. That is, the costs
of exploration are borne by the partner
price for Poland organisation. In case of positive results of
exploration works, the partner organisation
Russian gas exporting giant Gazprom said on KazMunayGaz until 2022 will reimburse the costs through oil
June 16 it would seek to retroactively raise the Kazakh sovereign wealth fund Samruk-Kazyna production.
price of gas it sells to Poland, Reuters reported. said on June 17 that Kazakhstan plans to float
The news comes a day after Gazprom its state-owned oil and gas firm KazMunayGaz KMG (KAZAKHSTAN)
and its Polish client, the state-controlled in 2022.
oil and gas company PGNiG, reached an The announcement comes after the fund
agreement over $1.5bn (€1.33bn) that the declared plans to postpone the listing of

Week 25 24•June•2020 www. NEWSBASE .com P19