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Kazakhstan secures extra gas supply from Chevron-led Tengiz field

Published 08/18/2022, 06:58 AM
Updated 08/18/2022, 07:00 AM
© Reuters. FILE PHOTO: Kazakh President Kassym-Jomart Tokayev delivers a speech during a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 17, 2022. REUTERS/Maxim Shemetov
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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.

© Reuters. FILE PHOTO: Kazakh President Kassym-Jomart Tokayev delivers a speech during a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 17, 2022. REUTERS/Maxim Shemetov

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.

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