№ 5 (49), 2011 - KazEnergy

ments received by Kazakhstan from abroadaccounted for the EU.Energy giants from France ("Total"), Italy("ENI") and Spain ("Repsol") invested considerableresources to a number of projectson oil production in Kazakhstan shelf of theCaspian Sea. And energy supplies from Kazakhstanto Europe by 2015 will be able toensure nearly a quarter of all energy needsof States inside the EU.Should not be forgotten that so far it is notwithdrawn the issue of laying the Trans-Caspian gas pipeline "Nabucco", in whichkey roles should play exactly European companies.And by the EU is Kazakhstan, aswell as other potential participants of thisproject (Azerbaijan, Turkmenistan) expectinga minimum of 12-15 billion euros in investments.And there is not less aggressive and activework on the investment market of Kazakhstanienergy from neighboring China. Chinesecompanies with the full support of thestate intend to further expand their investmentopportunities in Kazakhstan and deployto the maximum both oil and gas flowsof Kazakhstan itself, as well as of nearbyCentral Asian states to their side (includingthe use of Kazakhstan as a transit countryfor Turkmen gas supplies).On this background the Arab Gulf countrieshave very large financial resources, whichto the mutual benefit with these states Kazakhstanwould use both to modernize itsenergy industry (buying advanced Westernequipment and training national staff in Europeand the U.S.) and for the constructionof alternative pipelines to new markets andpotential oil and gas importers.Yes, Saudi Arabia, Qatar and the UAE stillhave more funding not only to the territoryof Kazakhstan but also to other CentralAsian projects for construction of mosquesand religious, trade objects, office and hotelspace. But investment cooperation in thefield of energy between Astana and the Gulfmonarchies is quite possible and it should bepushed and promoted.It's no secret that the Gulf Arabs - very slowpeople, they do not hurry in decision-making,but at the same time very pragmatic andcapable to count a prospect and real benefits.Therefore, if there is a political stability, investmentclimate is quite comfortable andcooperation with leading European partnersis successfully carried out, financial cooperationof Kazakhstan with key states of theArab Gulf might be a very promising area ofinter-regional ties.Taking into account the fact that in the nearfuture Kazakhstan will be one of the few energyexporting countries in the world thatwill continue to grow production of "blackgold", the Arab investments could play animportant role in strengthening the positionof Astana as a main energy player inthe whole Central and Southwest Asia, aswell as help the Arab Gulf States to obtainfinancial and political dividends from suchcooperation with Kazakhstan.After all, with all existing business controversies,the economy volumes and membershipin various international cartels andother energy associations, Kazakhstan andthe Arabian Gulf countries still have verymuch in common - and on this basis it wouldbe wise for both sides to look for the points ofconvergence of mutual interest.And, if such cooperation is supported by mutualwill and desire (including - at the highestlevel), then the Arabian Gulf has everychance to become an important partner forAstana not only in the Middle East but alsoat the global energy level.the Arabinvestmentscould play animportant rolein strengtheningthe position ofAstana as a mainenergy playerin the wholeCentral andSouthwest Asia.KAZENERGY89