Kazakhstan-China: more than 51 venture for oil and gas exports

(AGI) - Astana, 5 set. - More than 51 joint ventures for the total amount of 26 billion US dollars will be established in Kazakhstan in next 5 years, according to the statement of the Kazakh President in Hanzhou on September 5. "We have come to the agreement to start the construction of these modern joint enterprises in near future. We plan to complete four enterprises by the end of this year that will increase the total number of joint enterprises to six. The Fund of the Development of Silk Way has been active in providing finances to support such projects. We will need to get support of joint Kazakh-Chinese funds between companies and our countries", the Kazakh president noted. The transit of cargo from China to Europe through Kazakhstan has been rising for past years thanks to the effective use of dry port in Khorgos, the sea port in Aktau, the railway Khorgos-Almaty and the highway Western Europe - Western China. Nazarbayev also discussed the possibility of increasing the export of Kazakh oil to China due to the start of Kashagan project. "Currently we send around 7 million tons of oil to China, but this number could be increased up to 20 million and we could also increase gas export to China", the Kazakh president added. The Kazakh President has also mentioned the upcoming visit of the head of China's state council Li Keqiang where more opportunities for cooperation could be discussed. Kzy/Pit