Knowledge–based economy development

Natural Resources Code to regulate new investments in gas industry - KAZENERGY

Natural Resources Code will regulate the new investments in the gas industry, Director General of Legal Entity "Kazakhstan Association of Oil-Gas and Energy Sector Organizations “KAZENERGY” Asset Magauov said.
Nur-Sultan19 March , 11:59

"In order to provide necessary level of gas supply, we need to increase investments in exploration of new fields and, in this regard, the Ministry for Investment and Development and the Ministry of Economy develop draft Natural Resources Code. We believe that it will help to regulate the inflow of new investments in the gas sector", A. Magauov said.

At the VI mining forum "Promoting investments and innovations in the mining industry" Minister for Investment and Development Asset Issekeshev said that the concept of the Code "On Subsoil" is expected to be approved in the middle of this year, and the adoption of the Code is expected in 2016. The Minister stressed that the legislative framework of the document will meet the standards of the Organization for Economic Cooperation and Development (OECD).

Thus, as the Minister noted, in accordance with the order two Commissions in the Ministry of Energy and Ministry for Investment and Development will be created.

The Commission of the Ministry of Energy will consider the issues of mineral resources and hydrocarbons, the Commission of the Ministry for Investment and Development – the issues of the provision of solid minerals.

In 2014 gas production was 43.2 billion cubic meters, which was more than five times the level of gas production in 1991 and more than 2 times 4 years ago. The volume of exports of Kazakh gas in 2014 amounted to more than 6 billion cubic meters.

Indira Kaumetova