The parties discussed the issues on expansion of cooperation between the two countries in the oil and gas. Nursultan Nazarbayev expressed his satisfaction with dynamic development of the relations in this field.
At present, realization of about 10 joint projects amounting to $ 5 billion is underway in the oil and gas sector. Another 4 large joint projects worth more than $ 18 billion are in development in the field of energy resources transportation.
Moreover, the President of Kazakhstan and the CNPC President discussed the issues on the development of a programme on comprehensive cooperation in the oil and gas industry based on the “oil for investment swap” principle that means access to raw materials in exchange for investments in the oil refining and service projects.
Following the meeting, the agreement between the national oil and gas companies of the two countries on main principles of cooperation for the expansion and operation of the Kazakhstan-China oil pipeline was signed.