Kazakhstan secures extra gas supply from Chevron-led Tengiz field
A Chevron-led (CVX.N) joint venture has agreed to redirect 2.6 billion cubic metres (bcm) of gas per year towards Kazakhstan’s domestic market instead of exporting it, Kazakh President Kassym-Jomart Tokayev’s office said on Thursday.
The gas is a byproduct of oil output at the giant Tengiz field in western Kazakhstan in which Exxon Mobil , Russia’s LUKOIL (LKOH.MM) and Kazakhstan’s KazMunayGaz (KMGZ.KZ) also have stakes.
Tokayev met Chevron CEO Michael Wirth in Kazakhstan on Thursday and also discussed with him potential investments in petrochemicals and the expansion of Karachaganak, another giant oil project, his office said in a statement.
Kazakhstan sought extra gas supplies to boost domestic industry and ensure adequate local supply.