The economy of Kazakhstan is highly dependent on energy. Being the largest oilfield of the country, the Kashagan field bears strategic importance for the petroleum sector of Kazakhstan.
Among the members of the Commonwealth of Independent States (CIS), Kazakhstan has the 2rd largest liquid hydrocarbon fields after Russia.
It is well known that over 90% of revenues, which go to the National Fund (NF) of Kazakhstan, originate from exports of energy resources.
Searching for diversity in investors and routes to export its oil and gas, Kazakhstan has opened its energy sector for further development jointly with foreign oil and gas-producing companies.
Central Asian region possesses huge amount of gas reserves: Turkmenistan – 17.5 trillion m3 , Uzbekistan – 1.6 trillion m3 , Kazakhstan – 1.9 trillion m3 .
The inter-ministerial meeting of the participating states of the AGRI project (Azerbaijan-Georgia-Romania Interconnector) was held in Bucharest on June 24, 2015.
Kazakhstan is India’s largest trading partner among the Central Asian states. The cooperation on energy resources and trade of natural resources is an important component of the partnership between India and Kazakhstan.
Nowadays, Ashgabat and Tehran managed to establish more trusting relations, compared with relations between Iran and other Central Asian states.
Turkey and Azerbaijan have been trying to implement the Southern Gas Corridor Project as an important project which aims to help the region resources to meet with the world market.
In our fossil fuel dependent community oil and gas transportation via subsea pipelines is an important link in the chain of the petroleum industry.