A Chevron Corp.-led joint venture has agreed to redirect 2.6 Bcm of gas per year towards Kazakhstan’s domestic market instead of exporting it, Kazakh President Kassym-Jomart Tokayev’s office said on Aug. 18.
The gas is a byproduct of oil output at the giant Tengiz Field in western Kazakhstan in which Exxon Mobil Corp., Russia’s Lukoil and Kazakhstan’s KazMunayGaz also have stakes.
Tokayev met Chevron CEO Michael Wirth in Kazakhstan on Aug. 18 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.
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