Kazakhstan To Boost Energy Cooperation With China
China and Kazakhstan will seek a pragmatic expansion of partnership, especially in harnessing Kazakhstan’s oil, gas and other energy resources, said a Chinese official at an energy forum, part of the ongoing Expo 2017 in Astana, Kazakhstan.
“China is a big consumer of energy while Kazakhstan is one of the biggest producers,” said Shen Yueyue, the Vice-Chairwoman of the National People’s Congress Standing Committee. “Developing Sino-Kazakhstan energy relations serves the fundamental interests of the two countries, and can achieve mutual benefits and win-win results.”
Expo 2017 is an International Exposition currently taking place from June 10 to September 10, 2017 under the theme of “Future Energy”.
At present, profound changes are occurring in the international energy sector, Shen added. Asia’s emerging markets have grown very rapidly while the demand for energy in traditional developed countries has leveled off, and even declined in some of them.
Shen made the comment on Wednesday at the opening ceremony of the China-Kazakhstan Energy Cooperation Forum, as China celebrated its National Day at Expo 2017. Kazakhstan energy minister Kanat Bozumbayev was also present at the ceremony.
Bozumbayev highly commended China for its huge investment of effort in the expo. China has now become a major source of trade and investment for Kazakhstan, and the bilateral energy trade between the two sides shows great promise for the future, he said.
According to the forum, energy now makes up 30 percent of total trade between China and Kazakhstan, creating tens of thousands of jobs in the landlocked country which traditionally depends on Russia to export its oil to Europe.
China and Kazakhstan discussed possible cooperation on new energies such as nuclear, wind and solar power at the forum. About 300 officials and entrepreneurs were in attendance.