• 3 minutes Cyberattack Forces Shutdown Of Largest Gasoline Pipeline In United States - Zero Hedge
  • 6 minutes Renewable Energy Capacity Jumped 45% Worldwide In 2020; IEA Sees 'New Normal'
  • 11 minutes Forecasts for Natural Gas
  • 49 mins U.S. Presidential Elections Status - Electoral Votes
  • 16 hours Electric vehicle market growth is a blessing for some metals — and not a big worry for oil
  • 15 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days .
  • 16 hours Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 21 hours CRAPPIFORNIA DOES IT AGAIN! California proposes to steer new homes from gas appliances
  • 1 day Сryptocurrency predictions
  • 20 hours Joe Biden's Presidency
Oil Markets Stable Despite Major Pipeline Outage

Oil Markets Stable Despite Major Pipeline Outage

While the Colonial pipeline outage…

Gas Shortages Persist Despite Colonial Pipeline Resumption

Gas Shortages Persist Despite Colonial Pipeline Resumption

Colonial Pipeline reports this morning…

South Korea Investing in Kazakhstan Energy Projects

South Korean President Lee Myung-bak is currently visiting Kazakhstan. In one result of Lee’s visit, South Korea and Kazakhstan have signed agreements for two $4 billion projects to build a thermal power plant and a petrochemical complex in the Central Asian nation.

Under the terms of an inter-government agreement signed during President Lee's state visit, South Korea is guaranteed 70 percent stake in a $4 billion project to build a coal-fired power plant in the southern city of Balkhash, the United Arab Emirates Wakalat Anba’a al-Emarat news agency reported.

South Korea’s Korea Electric Power Corp (KEPCO) and Samsung C&T currently hold a 35 percent stake each in a project to build a 1,320-megawatt coal-fired power plant in Balkhash that when online, is expected to generate about 7 percent of Kazakhstan's electricity needs.

Further west, South Korea's LG Chemical and Kazakhstan Petrochemical Industries (KPI) signed a contract to establish a joint venture to develop a $4 billion project to build a petrochemical complex in Atyrau on the northern banks of the Caspian.

Despite the global financial crisis bilateral South Korean-Kazakh trade in 2010 grew by 50.3 percent to $760.1 million.  Kazakhstan and South Korea intend to bring up the trade turnover to the pre-crisis level of $900 million per annum. Kazakh President Nursultan Nazarbayev told a joint press conference with President Lee in the Kazakh capital Astana, “We hope to reach the pre-crisis level as early as this year.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News