08ASTANA722, KAZAKHSTAN ECONOMIC AND ENERGY UPDATE, MARCH 8 – MARCH 21,

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Reference ID Created Released Classification Origin
08ASTANA722 2008-04-14 12:02 2011-08-30 01:44 UNCLASSIFIED Embassy Astana

VZCZCXRO7465
RR RUEHLN RUEHVK RUEHYG
DE RUEHTA #0722/01 1051202
ZNR UUUUU ZZH
R 141202Z APR 08
FM AMEMBASSY ASTANA
TO RUEHC/SECSTATE WASHDC 2209
INFO RUCPCIM/CIMS NTDB WASHDC
RUCPDOC/DEPT OF COMMERCE WASHDC
RUEATRS/DEPT OF TREASURY WASHDC
RUCNCIS/CIS COLLECTIVE 0470
RUEHAK/AMEMBASSY ANKARA 2154
RUEHBUL/AMEMBASSY KABUL 0391
RUEHNE/AMEMBASSY NEW DELHI 0499
RUEHAST/USOFFICE ALMATY 0382

UNCLAS SECTION 01 OF 02 ASTANA 000722 
 
SIPDIS 
 
DEPT FOR SCA/CEN (O'MARA) 
DEPT PASS TO OPIC - BALLINGER 
DEPT PASS TO TDA FOR STEIN, EXIM FOR GLAZER 
DEPT PASS TO AID - EE-PHILLIPS/RUSHING 
TREASURY FOR OASIA/VELTRI 
USDOC FOR 4231/ITA/MAC/MLONDON, 4201/BISNIS 
USDOC FOR 6110/ITA/TD/BI/RHALPERN 
ANKARA FOR CFC 
 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: ECON EIND ENRG EPET EFIN KTDB KZ
SUBJECT:  KAZAKHSTAN ECONOMIC AND ENERGY UPDATE, MARCH 8 - MARCH 21, 
2008 
 
 
ASTANA 00000722  001.2 OF 002 
 
 
1.  Summary:  This information is drawn primarily from the 
Kazakhstani local press, and has not been verified for accuracy. 
 
-- $1 Billion Loan for Kazakhstan Development Bank 
-- New Appointments at FSA 
-- MangistauMunayGas Appeals Energy Ministry Decision 
-- Karachaganak Consortium Faces Environmental Fine 
-- Petrolinvest to Merge Two Kazakhstani Companies 
-- Energy Statistics for January-February 2008 
 
$1 Billion Loan for Kazakhstan Development Bank 
---------------------- ------------------------ 
 
2.  The state-owned Kazakhstan Development Bank (KDB) has received a 
$1 billion syndicated loan on the international markets, according 
to a KDB press release.  The loan was extended by a group of banks 
including Credit Suisse, ING, HSBC, SMBC, Bayern LB, and the China 
Development Bank.  The Kazakhstan Development Bank is one of several 
institutions operating under the umbrella of the state-owned Kazyna 
Sustainable Development Fund.  (Interfax-Kazakhstan, March 11) 
 
New Appointments at FSA 
----------------------- 
 
3.  Alina Aldambergen and Kuat Kozahkkhmetov have been appointed 
co-deputy chairpersons of Kazakhstan's Financial Supervision Agency 
(FSA).  Prior to this appointment, Aldambergen worked as the Deputy 
Chairperson of the Almaty Financial Center Agency, and Kozhakhmetov 
served as Chairman of the Managing Board of Tsesna Bank.  Former FSA 
Deputy Chairman Gani Uzbekov was simultaneously dismissed and 
transferred to another, unnamed position. (Interfax-Kazakhstan, 
March 14) 
 
MangistauMunayGas Appeals Energy Ministry Decision 
-------------------- ----------------------------- 
 
4.  MangistauMunayGas(MMG), which is owned by Central Asia Petroleum 
Ltd. of Indonesia, filed an appeal with the Almaty economic court 
against the results of a January 2008 inspection conducted by the 
Energy Ministry.  The Energy Ministry accused MMG of failing to meet 
its investment obligations, and thus causing a $72.2 million loss to 
the state budget.  (Liter newspaper, March 14) 
 
Karachaganak Consortium Faces Environmental Fine 
------------------ ----------------------------- 
 
5.  A Kazakhstani court fined a group of Western energy majors 
developing the Karachaganak gas field $15 million for environmental 
damages.  Kazakhstani authorities accused the Karachaganak Petroleum 
Operating (KPO) consortium of unauthorized gas flaring.  KPO denied 
any wrongdoing and is challenging the fine.  (Reuters, March 19) 
 
6.  KPO reached an important milestone on March 10.  It loaded its 
200 millionth barrel of oil into the Caspian Pipeline Consortium 
(CPC) pipeline.  (KPO press release, March 11) 
 
Petrolinvest to Merge Two Kazakhstani Companies 
------------------------ ---------------------- 
 
7.  Polish oil company Petrolinvest plans to merge two Kazakhstan's 
engineering and servicing companies, Caspian Services (CS) and 
KazakhstanCaspiShelf (KCS) after completing its acquisition of them 
over the coming months.  (Interfax-Kazakhstan, March 12) 
 
Energy Statistics for January-February 2008 
-------------------------- ---------------- 
 
8.  Kazakhstan produced 5.567 billion cubic meters of gas (including 
dry natural gas, liquefied natural gas, and natural gas liquids) 
during the January-February 2008 period -- which represents a 15.8% 
increase year-on-year.  Dry natural gas production rose 20.2% 
year-on-year to 3.224 bcm.  (Interfax - Kazakhstan, March 20) 
 
9.  According to the National Statistics Agency, coal production for 
January-February grew 18.4% year-on-year to 18,903.9 tons. 
 
ASTANA 00000722  002.2 OF 002 
 
 
Electricity production rose 11.5% to 15,756.3 million 
kilowatt-hours.  (Interfax - Kazakhstan, March 21) 
 
ORDWAY

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