Kazakhstan set to import Turkmen gas and develop its mineral resources
The Mazhilis, the lower house of Kazakhstan’s parliament, has adopted a draft law ratifying an agreement between Kazakhstan and Turkmenistan on promoting mutual investment and their reciprocal protection. The document was presented to MPs by Kazakhstan’s Deputy Foreign Minister Alibek Kuantyrov during a briefing.
During the draft law discussion, MPs asked the official to clarify the agreement’s targeted areas and elaborate on Kazakhstan’s intended investments.
«The agreement covers key areas, including energy, agriculture, infrastructure projects and manufacturing. In particular, Kazakhstan is interested in importing Turkmen gas. This is the reason behind expanding existing pipelines, as well as joint development of gas fields in Turkmenistan,» Kuantyrov said.
The document was signed on Oct. 10, 2024, in Ashgabat, Turkmenistan’s capital. The agreement provides for equal conditions for national and international investors, protection against expropriation without compensation and the option to resolve investment disputes in national courts or through international arbitration.
In late April, Kazakhstan expressed its intent to join the development of the giant Galkynysh gas field in Turkmenistan. Kursiv.media has asked the Ministry of Energy for a comment on this matter and received the following response:
«QazaqGaz and Türkmengaz are currently in talks on the joint development of the third phase of Galkynysh. It’s important to note that the negotiations are confidential; therefore, detailed information cannot be disclosed.»
The state-owned company Türkmengaz is currently operating the Galkynysh field in cooperation with partners from China, South Korea and the United Arab Emirates. So far, the project has already attracted about $10 billion in investments, of which $8 billion was provided by China in the form of loans. Overall, the development of the field is planned to be carried out in seven stages.
