News Roundup - November 9, 2007

Guardian Unlimited: Kazakhstan, China agree to press ahead with pipeline

China and Kazakhstan agreed to press ahead with plans to construct a natural gas pipeline in 2008-2009 that would give Beijing access to Caspian Sea gas reserves, the Kazakh state energy company said on Thursday. KazMunaiGas said in a statement it had signed an agreement with China National Petroleum Corp. (CNPC) setting out principles of future work on the pipeline, which would annually pump 40 billion cubic metres of gas…

China Daily: China, Kazakhstan ink gas pipeline agreement

China and Kazakhstan signed an agreement here Thursday outlining the principles for building and operating the China-Kazakhstan natural gas pipeline. Visiting Chinese Vice Premier Wu Yi and Kazak Prime Minister Karim Masimov were present at the signing ceremony in the Kazak capital.

Reuters: Kazakh KMG E&P completes CITIC stake purchase

London-listed Kazakh oil company KazMunaiGas E&P has completed its purchase of half of Kazakh oil assets owned by a Chinese company, the Kazakh company said on Thursday…

Reuters: Kazakhstan’s Alliance gets $30 million loan

Kazakhstan’s Alliance Bank secured a seven-year, $30 million loan from U.S. National City Bank to develop its retail banking services, the Kazakh bank said on Thursday…

Reuters: Kazakh uranium firm Jan-Sept net profit up

Net profit of Kazakh uranium company Kazatomprom rose to 21.3 billion tenge ($176 million) in the first nine months of the year from 18.6 billion tenge in the same 2006 period, according to data published on Thursday…

Eurasia Daily Monitor: Moscow forcing Lufthansa to switch from Kazakhstan to Siberian hub

Russia’s Transport Ministry has threatened to close Russia’s air space to Lufthansa’s cargo flights to East Asian countries, unless Lufthansa Cargo establishes a Russian ground-based hub for its East Asia business…

Forbes: Kazakh banks profitable but facing refinancing risk

Moody’s Investors Service said the outlook for Kazakhstan’s rated banks is stable to negative, reflecting their increased refinancing risks and possible deterioration in asset quality, but also their improved profitability and reasonable capitalisation…

Forbes: Kazakhstani city of Almaty’s ratings affirmed with stable outlook

Fitch Ratings said it has affirmed Kazakhstan’s City of Almaty long-term foreign and local currency ‘BB+’ ratings and a short-term foreign currency ‘B’ rating. Fitch also assigned it a national long-term ‘A+(kaz)’ rating…

Forbes: Kazakhstani city of Astana rated ‘BBB-’

Fitch Ratings said it has assigned the Kazakhstan City of Astana long-term foreign and local currency ‘BBB-’ ratings and a short-term foreign currency ‘F3′ rating in addition to national long-term ‘AA(kaz)’ rating…

Rigzone: Tethys Petroleum says Kyzyloi pipeline tie-in almost complete

Tethys provided an update on progress with its Kyzyloi gas field development in Kazakhstan, announcing that the tie-in of its Kyzyloi gas field into the Bukhara-Urals gas trunkline is now almost completed…

The Moscow News: Storming the Caspian

As the five Caspian states - Azerbaijan, Iran, Kazakhstan, Russia, and Turkmenistan - are trying, with little success, to come to terms on the legal status of Caspian Sea, the region is gradually emerging as one of the most explosive parts of the world. Experts believe that tensions there could come to a head soon…

Gazeta.KZ: “Mangystau Oil & Gas 2007″ to be held in Aktau for the first time

“Mangystau Oil & Gas 2007″ exhibition is held in Aktau on November 7 - 9 by the first time, as reported by KZ-today correspondent. Officially the exhibition is supported by the RK Ministry of Energy and Mineral Resources, Mangistau oblast akimat and akimat of Aktau…

Gazeta.KZ: RK position in Kashagan negotiations corresponds with international standards

RK position in negotiations’ process on situation on Kashagan field is “stable, right and corresponds with international standards”…

Eurasia Insight: Kazakhstan, OSCE to continue election cooperation

A visiting OSCE official has signaled the organization’s readiness to continue cooperating with Kazakhstan on democracy and rights issues, RFE/RL’s Kazakh Service reported…

NASDAQ: Kazakhstan Development Bank pulls $550 Million USD bond issue

The Development Bank of Kazakhstan on Thursday pulled a planned issuance of $550 million in 10-year bonds because of the turmoil in global markets, according to a term sheet provided by a fund manager…