ASTANA, MOSCOW DISCUSS BUILDING OF GAS PROCESSING PLANT IN KAZAKHSTAN

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ASTANA, April 5, 2004. (RIA Novosti) - Kazakhstan is negotiating with Russia for the construction of a major gas-processing plant at Karachaganak oil field in Kazakhstan's west.

"We are conducting serious negotiations with the new Russian government on the construction of a gas-processing plant at Karachaganak," the Kazakh Minister of Energy and Mineral Resources, Vladimir Shkolnik said on Monday.

According to him, "if this decision is taken, Kazakhstan will finance 60-70 per cent of this project and the contractor will have to finance 30-40 per cent." According to the Kazakh Ministry of Energy and Mineral Resources, the plant can cost $1.2 billion and will pay off in 7-8 years. Gas price on the Russian-Kazakh border should be $49-$54 per cubic meter to provide the profitability of the project.

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