 |
Louisiana Light • 2 days | 81.18 | +0.12 | +0.15% | ||
|
Bonny Light • 29 days | 86.00 | -0.62 | -0.72% | ||
|
Opec Basket • 2 days | 81.37 | -0.08 | -0.10% | ||
|
Mars US • 266 days | 75.97 | -1.40 | -1.81% | ||
|
Gasoline • 7 hours | 2.461 | -0.007 | -0.29% |
|
Bonny Light • 29 days | 86.00 | -0.62 | -0.72% | ||
|
Girassol • 29 days | 87.27 | -0.38 | -0.43% | ||
|
Opec Basket • 2 days | 81.37 | -0.08 | -0.10% |
|
Peace Sour • 14 hours | 72.28 | +0.69 | +0.96% | ||
|
Light Sour Blend • 14 hours | 72.28 | +0.69 | +0.96% | ||
|
Syncrude Sweet Premium • 14 hours | 79.18 | +0.89 | +1.14% | ||
|
Central Alberta • 14 hours | 72.28 | +0.69 | +0.96% |
|
Eagle Ford • 3 days | 74.07 | +0.63 | +0.86% | ||
|
Oklahoma Sweet • 2 days | 75.00 | +2.00 | +2.74% | ||
|
Kansas Common • 3 days | 67.75 | +0.50 | +0.74% | ||
|
Buena Vista • 4 days | 83.27 | -2.82 | -3.28% |
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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
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