08ASTANA1701, KAZAKHSTAN ECONOMIC AND ENERGY UPDATE, AUGUST 17 – AUGUST

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Reference ID Created Released Classification Origin
08ASTANA1701 2008-09-08 10:34 2011-08-30 01:44 UNCLASSIFIED Embassy Astana

VZCZCXRO7527
RR RUEHLN RUEHVK RUEHYG
DE RUEHTA #1701/01 2521034
ZNR UUUUU ZZH
R 081034Z SEP 08
FM AMEMBASSY ASTANA
TO RUEHC/SECSTATE WASHDC 3220
INFO RUCPCIM/CIMS NTDB WASHDC
RUCPDOC/DEPT OF COMMERCE WASHDC
RUEATRS/DEPT OF TREASURY WASHDC
RUCNCIS/CIS COLLECTIVE 0626
RUEHAK/AMEMBASSY ANKARA 2181
RUEHBUL/AMEMBASSY KABUL 0417
RUEHNE/AMEMBASSY NEW DELHI 0516
RUEHAST/USOFFICE ALMATY 0707

UNCLAS SECTION 01 OF 02 ASTANA 001701 
 
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 EAGR EPET ENRG EFIN KZ
SUBJECT:  KAZAKHSTAN ECONOMIC AND ENERGY UPDATE, AUGUST 17 - AUGUST 
30, 2008 
 
ASTANA 00001701  001.2 OF 002 
 
 
1.  Summary:  This information is drawn primarily from the 
Kazakhstani local press, and has not been verified for accuracy. 
 
--   Kazakhstani Wheat Exports 
--   Regional Economic Integration: Latest Developments 
--   Banker Mukhtar Ablyazov Looking for IPO 
--   Economic Statistics 
--   ONGC To Buy Imperial Energy Corp. 
--   ENRC Increases Investments in Kazakhstan 
--   Energy Statistics 
 
Kazakhstani Wheat Exports 
------------------------- 
 
2.  Iran's state procurement agency will purchase 150,000-200,000 
tons of milling wheat from Kazakhstan.  Shipment is planned for 
October and November.  Iran's grain harvest this summer was 
seriously damaged by drought and other unfavorable weather, the 
media reports. 
 
3.  Kazakhstan will triple its supply of wheat to Egypt.  President 
Nazarbayev told visiting Egyptian Minister of Industry and Trade 
Rasheed Mohamed Rasheed on August 29 that in 2008, Kazakhstan 
intends to export approximately one million tons of wheat to his 
country.  In 2007, Kazakhstan exported to Egypt 329,600 tons of 
wheat. 
 
Regional Economic Integration: Latest Developments 
-------------- ----------------------------------- 
 
4.  In a meeting with President Nazarbayev, Tair Mansurov, Secretary 
General of the Eurasian Economic Community, said that the customs 
union between Russia, Belorussia and Kazakstan should be set up by 
2010.  Eurasian Economic Community member states intend to adopt 26 
out of 69 fundamental documents this year. 
 
5.  The Inter-Bank Alliance of the Shanghai Cooperation Organization 
(SCO) and the Eurasian Development Bank (EDB) signed a partnership 
memorandum on August 28 in Dushanbe.  According to the Development 
Bank of Kazakhstan, which currently chairs the Inter-Bank Alliance, 
the memorandum is aimed at the development of mutual cooperation. 
The sides will focus on funding investment projects and conducting 
joint activities, such as seminars, conferences, and business 
forums.  The Inter-Bank Alliance includes the Development Bank of 
Kazakhstan, the China Development Bank, Russia's VneshEconomBank, 
the Settlement and Savings Company of Kyrgyzstan, Tajikistan's State 
Savings Bank AmonatBank, and the National Bank for External Economic 
Activity of Uzbekistan. 
 
6.  Russia's Vneshtorgbank (VTB) received permission from the 
Financial Supervision Agency to open a subsidiary in Kazakhstan. 
VTB opened a representative office in Almaty in February this year. 
 
 
Banker Mukhtar Ablyazov Looking for IPO 
-------------------- ------------------ 
 
7.  BTA Bank Chairman Mukhtar Ablyazov has decided to consolidate 
his development businesses in Russia by merging the assets of two 
companies, Eurasia Logistics and Eurasia City.  Russian newspaper 
Kommersant reported that his decision was taken in view of a 
possible IPO on the London Stock Exchange in 2009.  According to 
Kommersant, the newly created company may become the most valuable 
development company in Russia, with a capitalization reaching $23 
billion. 
 
Economic Statistics 
------------------- 
 
8.  Gross agricultural production in Kazakhstan was 363.5 billion 
tenge (approximately $3 billion) during January-July 2008, which 
reflects 0.9% year-on-year growth.  Meat production increased by 
3.5% during that period, while the production of milk and eggs grew 
by 3.9% and 8.6% respectively. 
 
 
ASTANA 00001701  002.2 OF 002 
 
 
9.  For the first half of 2008, Kazakhstan's external trade turnover 
was $52.14 billion, a 42.5% increase over the same period for the 
previous year.  Exports increased by 60.7% to total $35.05 billion; 
imports grew by 15.5% to total $17.1 billion.  Price increases for 
oil and gas were responsible for much of the increase in exports. 
The physical volume of oil and gas exports actually declined by 2.4% 
during the first half of 2008, while the value of oil and gas 
exports grew by 66.9% to reach $21.2 billion. 
 
ONGC To Buy Imperial Energy Corp. 
--------------------------------- 
 
10.  India's Oil and Natural Gas Corporation (ONGC) is in the final 
stages of negotiations to buy British Imperial Energy Corp. for 1.8 
billion pounds.  Imperial Energy owns a license to explore the 
Severniy Tourgay o
il field in Kostanay oblast. 
 
ENRC Increases Investments in Kazakhstan 
--------------------- ------------------ 
 
11.  The Board of Directors of the Eurasian Natural Resources 
Corporation (ENRC) voted to increase investments in Kazakhstan from 
$3.6 billion to $6.9 billion, in order to build a second pellet 
plant, a caustic soda plant with a designed capacity of 400,000 tons 
a year, and an anode production plant, and to complete the second 
phase of an electrolysis plant as well as other projects that will 
come on-stream during 2010-2012. 
 
Energy Statistics 
----------------- 
 
12.  According to the National Statistics Agency, Kazakhstan 
produced 33.78 million tons of crude oil during January to July 
2008, up 6.4% compared to the same period in 2007, and 19.88 billion 
cubic meters of natural gas, an increase of 14%.  Coal production 
was up 18.4% to 62.92 million tons. 
 
ORDWAY 
1 
 
 
4

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