23.05.2008, 18:33 2402

Nazarbayev suggests creating oil refining and petrochemistry joint venture with Russia

The President of Kazakhstan Nursultan Nazarbayev suggests creating oil refining and petrochemistry joint venture with Russia, the agency reports.

Astana. May 23. Kazakhstan Today - The President of Kazakhstan Nursultan Nazarbayev suggests creating oil refining and petrochemistry joint venture with Russia, the agency reports.

"We suggest strengthening this vector, creating joint venture on petrochemistry and oil refining," N. Nazarbayev said at the joint press conference with the President of the Russian Federation Dmitry Medvedev.

"The most part of Kazakhstan oil and gas goes to Europe through Russian pipeline system. There is another process: we plan to export this year Russian oil to China through Kazakhstan," N. Nazarbayev reminded.

Two countries actively cooperate in development of new oil fields and gas in the shelf of the Caspian Sea.

The Russian-Kazakhstan cooperation in power engineering has strategic character," the President of Kazakhstan concluded.

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