Eurasian Integration Yearbook 2012

Natalia Maqsimchook. “Chronicle of EurasianRegional Integration 2011”2011: Data and Reviewsprevious tariff. Before November 1 the parties are due to agree upon the volumeand tariffs of oil transportation through the territory of Ukraine in subsequentyears.LUKOIL to raise funds for projects in UzbekistanJune 7, 2011RIA NovostiLUKOIL, Russia’s largest oil company, intends to raise $500 million to financeinvestment in the Kandym and Khauzak-Shady oilfields in Uzbekistan.The consortium of lenders is expected to include international financialorganisations, the Asian Development Bank, the Islamic DevelopmentBank and commercial banks: BNP Paribas (Suisse) SA; Korea DevelopmentBank; Crédit Agricole CIB; and UniCredit Group. The commercial loanswill be underwritten by the ADB and the Multilateral Investment GuaranteeAgency (MIGA).The project is still subject to approval from the Republic of Uzbekistan. It isexpected that financing will be secured by the third quarter of 2011.Note:The agreement on the Khauzak-Shady-Kandym project was signed on June 16, 2004. The Khauzak gas fieldwas commissioned in November 2007. Production is estimated to reach 12 billion m 3 of gas per year.KMG interested in joint work with Gazprom NeftJune 9, 2011Kursiv.kzKazMunayGaz, Kazakhstan’s national oil company, has requested talks withGazprom Neft on implementing joint projects with Russia. Boris Zilbermints,Gazprom Neft’s Deputy General Director for Exploration and Production, saidthat Gazprom Neft may offer KMG not only its own assets but third party assetsas well.Note:KazMunayGaz, Kazakhstan’s National Oil Company, is owned by Samruk-Kazyna National Welfare Fund.Gazprom Neft (formerly Sibneft) is the oil arm of Gazprom, which owns over 95% of Gazprom Neft’s shares.As of 2010, Gazprom Neft’s consolidated oil production totalled around 52 million tonnes. The companyplans to increase its oil production to 100 million tonnes by 2020 under a $70 billion oil business developmentstrategy.RIA Novosti, Kursiv.kzEurasian Development Bank269