News Roundup

News Roundup - June 11, 2008

By SRI ⋅ June 11, 2008 ⋅

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energy:

Eni CEO says Kashagan talks with Kazakh government continue

(Dow Jones/CNN Money) - Chief Executive Paolo Scaroni of Eni SpA (E), which leads the consortium developing Kashagan, said Tuesday that talks with the Kazakh government are continuing over the oil field, despite an accord reached five months agoo to end a spat between the parties.

Kuryk to become main oil terminal of Kazakhstan for supplies via BTC pipeline (Azerbaijan Business Center)

Kazakhstan is ready to export up to 90 million tons of oil a year through Caspian (Azerbaijan Business Center)

Aktau port expects to transship about 20 million tons of oil a year versus current 10 million tons (Azerbaijan Business Center)

Aktau port claims for 46% share in Caspian cargo carriages (Azerbaijan Business Center)

Arawak completes acquisition of 40% stake in the Saigak field in Kazakhstan

(CNW/Yahoo! Finance)

mineral resources:

Kazakhstan to swap ENRC shares for Kazakhmys stake

(Bloomberg) - Kazakhstan agreed to acquire a 1.31 billion-pound ($2.57 billion) stake in Kazakhmys Plc, the country’s largest copper producer, in return for part of its interest in Eurasian Natural Resources Corp.

Kazakh intrigue gets more interesting

(Guardian) - Say one thing about the Kazakh miners, they know how to keep you on your toes.

Kazakhmys hands Links new £1.4bn mining deal

(legalweek.com) - Linklaters has advised regular client Kazakhmys as the mining giant moves to increase its stake in Eurasion Natural Resources Corporation (ENRC) to more than 25%.

Kazakhs edge closer to inevitable end-game

(Financial Times) - Let’s play power politics. I am Nursultan Nazarbayev, president of Kazakhstan and ultimate arbiter of who gets the mining licences; you are a director of Kazakhmys, the former state-controlled mining company. Who holds the cards in a negotiation about how to exploit my country’s resources?

Kazakhmys digs Eurasian (Forbes)

ArcelorMittal to double capacity at Kazakh plant

(Reuters) - ArcelorMittal, the world’s largest steelmaker, said on Tuesday that it planned to double the steelmaking capacity of its Temirtau plant in Kazakhstan to 10 million tonnes.

business and economy:

Operation of KazSat is controlled from a standby control room in Moscow region

(Interfax) - “In September 2007 the control functions were transferred to the Kazakh side. However, for any contingency event, as has happened now, there is a standby control room in Skulkovo of Moscow region.”

Kazakhstan wants a Palace on Wheels along Silk Route

(New Kerala) - Spurred by the success of the Palace on Wheels and other luxury train services in India, Kazakhstan has sought help from India’s tourism ministry for similar packages along the famous Silk Route that dates back over two millennia.

Lufthansa bows to Moscow pressure

(Cargonews Asia) - The protracted tug-of-war between the Russian authorities and Lufthansa Cargo has ended with Moscow finally succeeding in persuading the German cargo carrier to relocate its existing hub from Astana in Kazakhstan to Krasnoyarsk airport in Siberia.

Kazakhstan proposes TRACECA to transfer to direct work with consignors (Azerbaijan Business Center)

Russian Savings Bank plans to join investment projects in Kazakhstan (Kazinform)

Kazakhstan, France to sign strategic partnership treaty (Kazinform)

National Bank of Kazakhstan: Exchange rates June 11, 2008 (Kazinform)

politics:

Bulgaria’s contoversial ambassador to Kazakhstan asks to be relieved (Sofia Echo)

society:

Restrictive draft Religion Law to reach full parliament tomorrow

(Forum 18) - Despite recent tweaking of the draft Religion Law due to be presented to parliament tomorrow (11 June) by the Working Group, the text contains many violations of international human rights commitments.