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Written by SRI
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Thursday, 26 August 2010 11:40 |
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(SRI) - A federal bankruptcy judge has denied BTA Bank's attempt to use U.S. bankruptcy law to shield it from an overseas legal proceeding, a ruling that limits the reach of the U.S. bankruptcy court in foreign insolvency disputes.
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Written by PARAG KHANNA
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Friday, 13 August 2010 11:45 |
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 ULAANBAATAR, MONGOLIA — The fate of the massive deposits of lithium recently discovered in Afghanistan is destined to be no different from that of landlocked Central Asia's other natural resources: tapped by the West, and eventually controlled by the East.
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Written by SRI
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Friday, 13 August 2010 11:36 |
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 The second phase of development of the Kashagan oil field has been postponed until 2018-2019, local newswires reported on Thursday, citing the chief executive of Kazakh oil and gas company KazMunaiGas.
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Written by Nariman Gizitdinov
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Friday, 26 March 2010 13:42 |
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March 25 (Bloomberg) -- China Petroleum & Chemical Corp., the Hong Kong-listed company known as Sinopec, won a contract to build a $1.7 billion polypropylene plant in western Kazakhstan.
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Written by Maria Golovnina
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Monday, 15 March 2010 20:56 |
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 ALMATY (Reuters) - China's insatiable demand for energy to power its economy has made it a serious contender in the fight for control over vast energy resources in its thinly populated and impoverished western backyard.
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Written by Reuters
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Monday, 15 March 2010 20:44 |
March 11 (Reuters) - Energy-hungry China is stepping up its presence in former Soviet Central Asia by handing out billions of dollars in loans, snapping up energy assets and building a gas pipeline from Turkmenistan.
Below is the list of recent Chinese investments.
CENTRAL ASIA GAS PIPELINE
In December 2009, China opened a new pipeline linking a massive gas field in Turkmenistan -- Central Asia's biggest gas producer -- with its Xinjiang region.
The 1,833-km pipeline, starting near a Chinese-developed gas field in eastern Turkmenistan, is expected to reach full annual capacity of 40 billion cubic metres by 2012-13.
KAZAKHMYS LOAN
In December 2009, state-run China Development bank agreed to lend up to $2.7 billion to London-listed Kazakh copper major Kazakhmys (KAZ.L) which plans use the funds to develop new fields.
Kazakhmys plans to use part of the money to develop the major Boschekul deposit near the Chinese border. The deposit is set to produce 100,000 tonnes of copper cathode a year and will start in 2014.
MANGISTAUMUNAIGAS
In November 2009, China's state-owned CNPC tied up with Kazakh state firm KazMunaiGas in a $2.6 billion deal to jointly take over Kazakh oil producer MangistauMunaiGas.
In addition, China gave Kazakhstan $10 billion in loans to finance various projects.
TURKMENISTAN LOAN
In mid-2009, China agreed to issue a $4 billion loan to Turkmenistan to develop its largest gas field, South Iolotan.
South Iolotan contains between 4 trillion and 14 trillion cubic metres of gas, Britain's Gaffney, Cline and Associates said in 2008 -- making it one of the world's top 5 deposits.
KAZMUNAIGAS E&P
In October 2009, a Chinese investment company bought 11 percent in Kazakh oil major KazMunaiGas E&P for $939 million.
KazMunaiGas E&P, the listed subsidiary of KazMunaiGas, is one of Kazakhstan's top three oil producers. The total volume of its proved and probable reserves, as at the end of 2008, is 241 million tonnes (1.8 billion barrels).
URANIUM JV
In April 2009, China Guangdong Nuclear Power Co (CGNPC) said it would develop a uranium deposit in Kazakhstan with reserves of 40,000 tonnes together with Kazakh state firm Kazatomprom.
China plans to import a total of 24,200 tonnes of Kazakh uranium between 2008 and 2012, it said.
TAJIKISTAN INFRASTRUCTURE
Last year, China pledged over $1 billion in investments to build power plants, electricity grids and roads in Tajikistan.
Tajikistan is the poorest country in Central Asia and its economy is still in ruins after a civil war in the 1990s.
KYRGYZSTAN INVESTMENTS
In January 2010, China signed a deal with Kyrgyzstan to build a $342 million electric grid link and said it considered taking part in a project to build a railway to Europe across Kyrgyzstan and Uzbekistan. (Writing by Olzhas Auyezov; Editing by Sonya Hepinstall) (For a story on China in Central Asia see [ID:nLDE6291J7] |
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Written by Nariman Gizitdinov
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Thursday, 04 March 2010 11:51 |
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Kazakh companies are concerned about soaring import costs and stiffer competition from Russian rivals since the Central Asian country joined a customs union with Russia and Belarus on Jan. 1, a business lobby said.
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Written by Erica Marat
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Tuesday, 23 February 2010 11:24 |
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Since the winter energy crisis two years ago, when freezing temperatures lasted for several weeks, cooperation dynamics within Central Asia have witnessed rapid change. Upstream Kyrgyzstan and Tajikistan, which rely on electricity imports during winter, were hit particularly badly as they were unable to supply the population with enough electricity and gas. Consequently, Tajikistan was forced to declare a humanitarian crisis.
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Written by SRI
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Wednesday, 10 February 2010 09:04 |
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(SRI) - Bad loans remain the main systemic risk for Kazakh banks while liquidity and currency risks are gradually declining, Kazakhstan's central bank said Monday, citing its survey of the country's commercial banks.
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Written by Reuters
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Tuesday, 09 February 2010 10:08 |
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Kazakhstan, the largest economy in Central Asia, is set for recovery after a bumpy 2009 in a process dependent on a number of external and domestic factors.
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