ALMATY (Reuters) - A Chevron-led joint venture has agreed to redirect 2.6 billion cubic metres (bcm) of gas per year towards Kazakhstan's domestic market instead of exporting it, Kazakh President Kassym-Jomart Tokayev's office said on Thursday.
The gas is a byproduct of oil output at the giant Tengiz field in western Kazakhstan in which Exxon Mobil (NYSE:XOM), Russia's LUKOIL and Kazakhstan's KazMunayGaz also have stakes.
Tokayev met Chevron (NYSE:CVX) CEO Michael Wirth in Kazakhstan on Thursday 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.