High dynamics of partnership

May 30. Kazpravda

High dynamics of partnershipRK President Nursultan Nazarbayev held a meeting with Russian President Vladimir Putin who arrived in Astana to take part in the meeting of the Supreme Eurasian Economic Council at the level of Heads of State.

During the talks, the two leaders discussed bilateral cooperation in the industrial, trade and economic, cultural and humanitarian spheres and topical issues of the international agenda.

The heads of state also touched on the key aspects of the signed agreement on the Eurasian Economic Union and the main directions of cooperation between the countries in the framework of this organization.

Nursultan Nazarbayev noted the high dynamics of cooperation between Kazakhstan and Russia, which has a beneficial effect on the development of key industries.

In turn, Vladimir Putin stressed successful development of bilateral relations and the need for greater cooperation in high-tech sectors.

As RK President’s press service informed, after the meeting in the presence of the two presidents a number of documents was signed. Among them is the Protocol amending the Agreement between the Government of the Russian Federation and the Government of the Republic of Kazakhstan on trade and economic cooperation in the field of oil and petroleum products in the Republic of Kazakhstan of December 9, 2010; Memorandum of Understanding on cooperation in the construction of a nuclear power plant in the Republic of Kazakhstan; Joint statement of JSC NAC Kazatomprom and the Russian Rosatom on cooperation in the field of alternative energy and production of rare earth metals; Comprehensive program of Kazakh-Russian cooperation in peaceful use of atomic energy and the Roadmap of measures to resolve the issues in the field of subsurface on the deposits Kharassan -1 Akdala, South Inkay.


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Russia and Kazakhstan extend oil delivery agreement until 2025

May 30. The Voice of Russia

Russia and Kazakhstan have prolonged the intergovernmental agreement on trade and economic cooperation in the field of deliveries of oil and oil products of October 9, 2010, until 2025, Deputy Energy Minister Anatoly Yanovsky told journalists.

“The agreement <…> is prolonged till 2025. It has been synchronized with the existing contracts until 2019, plus a five-year period, for which the contract is automatically extended, unless one of the parties notifies the other of an intent to withdraw from the agreement six months in advance,” Yanovsky said.

The corresponding document was signed in Astana on May 29. The signing ceremony was held in the presence of the presidents of the two countries. On the same Thursday, Russia, Belarus and Kazakhstan signed the Treaty on the Eurasian Economic Union (EEU), however, the market of oil and oil products was excluded from its perimeter and submitted to a bilateral basis until 2025, by which time it is planned to gradually eliminate all exemptions from the free trade regime within the union.

The volume of oil products produced at Kazakhstan’s refineries cannot sufficiently keep up with domestic demand. In 2014, Kazakhstan plans to import 1.069 million tons of gasoline and 600-650 thousand tons of diesel fuel, mainly from Russia. The local oil refineries plan to produce 2.9 million tons of gasoline, while the prospective consumption in 2014 is 4.2 million tons.

According to the intergovernmental agreement between Russia and Kazakhstan, which is now extended for the period until 2025, duty-free imports from Russia of oil and light oil products to the republic will be limited by quotas, and the supplies of light oil products from Kazakhstan to third party countries are prohibited, as well as the supplies of dark oil products from Russia to Kazakhstan.