IEA deputy director: China may pay more for Kashagan than India.

By bne IntelliNews June 19, 2013

China may be eager to pay more for the stake of ConocoPhillips in the Kashagan field than India, Richard Jones, deputy executive director of the International Energy Agency, told “Trend” at the energy conference in Atyrau.

According to him, both China and India need to secure stable supply of energy resources and so far China has been more successful than India. He also noted that Kashagan is very attractive for China due to the field's close proximity to the country.

In November 2012, ConocoPhillips signed an agreement to sell its 8.4% stake in Kashagan project to Indian ONGC. However, the Kazakh government has a pre-emptive right to buy the stake. Recently, some rumours emerged that Kazakhstan may be willing to buy the stake in order to re-sell it to China.

The Kazakh government would be also eager to obtain loans in exchange for the stake – a similar scheme was applied during the acquisition of Mangistaumunaigaz by CNPC. Still, the sale of the stake to China would spark criticism from the society which is afraid of Chinese domination over the region.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Montenegro to speed up re-nationalisation of power firm EPCG

Montenegro’s government has decided to speed up the acquisition of Italian A2A's stake in the power firm EPCG, paying €68.9mn for a ... more

Croatia reportedly receives just one bid to lease capacity at planned LNG terminal

LNG Hrvatska has reportedly received just one binding offer to lease capacity at the planned planned liquefied natural gas (LNG) terminal on the Croatian island of Krk, unnamed sources ... more

Finland gives final nod to construction of Nord Stream II

Finland has issued a second and final permit for the construction of the controversial Nord Stream II pipeline that is to pump gas from Russia directly to Germany via a Baltic Sea route, the Regional ... more

Most Read

  1. Romanian developers get in the game
    3 days ago
  2. Putin and Trump trying to walk back Syria strike and sanctions tensions
    3 days ago
  3. What’s the cost of US sanctions on Russia?
    4 days ago
  4. E-commerce dramatically eats into foot traffic at Moscow’s leading shopping malls
    15 days ago
  5. Romania entrepreneur aims to put home-grown UAV defence technology industry on the map
    5 days ago
  1. Fears raised of US conditioning F-35s sale on Turkey cancelling S-400 deal with Russia
    25 days ago
  2. COMMENT: Whisper it – ‘Erdonomics’ could be driving Turkey to a meltdown
    12 days ago
  3. Romanian developers get in the game
    3 days ago
  4. KRUK REPORT: Nadia Savchenko, Ukraine’s fallen hero
    29 days ago
  5. Putin and Trump trying to walk back Syria strike and sanctions tensions
    3 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss