MIL OSI Translation. Region: Russian Federation –
The officials discussed issues of bilateral economic cooperation, including the energy sector.
Deputy Prime Minister of the Russian Federation Alexander Novak held a meeting with Aide to the President of the Republic of Kazakhstan Kanat Bozumbayev.
The officials discussed topical issues of Russia-Kazakhstan trade and economic cooperation, joint steps in the Eurasian Economic Union and other matters of mutual interest. Speaking about the energy sector, they reviewed current supplies of oil and oil products, natural gas and cooperation in the electric power industry.
Bilateral cooperation in the fuel and energy complex rests on the principles of long-term reliable partnership and mutual benefit. The two countries work together in bilateral and multilateral formats, including the CIS Electric Power Council, the Eurasian Economic Union, the Gas Exporting Countries Forum and OPEC +, noted Alexander Novak.
“We have durable economic and energy ties with Kazakhstan and are developing long-term agreements on the supply and transit of gas, oil and oil products, and coal, which are within the limits of projected balances, Mr Novak emphasized.
A number of regions in Russia and Kazakhstan are also actively developing economic cooperation. Despite the pandemic, bilateral trade remained practically the same in the past year and went up by 14.7 percent in the first quarter of this year, Mr Novak said.
“The transit of oil from Kazakhstan to foreign markets continues via Russia, while Russian oil goes via Kazakhstan onward to the People’s Republic of China. Gazprom provides uninterrupted supplies of gas to Kazakhstan. It is cooperating with KazMunayGaz in processing gas from the Karachaganak deposit at the Orenburg Gas Refinery. The two countries have established a company to develop the Tsentralnoye deposit in the Caspian Sea, ”Mr Novak added.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.