Azernews.Az

By Aynur Jafarova

Kazakhstan and France will implement a joint project on the production and supply of industrial gas for the refineries of the Central Asian country.

A relevant memorandum of understanding was signed between KazMunaiGas Processing and Marketing Company (KMG PM) and the French Air Liquide Company within the framework of the business forum during the state visit of French President Francois Hollande to Kazakhstan.

The document said the two sides will work to align conditions of the joint production and supply of industrial gas for Kazakh refineries.

The perimeter of the project will include the rigs for the production of industrial gas at all three Kazakh refineries and measures to improve the efficiency of production of industrial gas.

A joint venture is also expected to be established by KMG PM and Air Liquide in future.

“We are interested in cooperation with Air Liquide Company, in the use of its experience and technologies in the production of industrial gases for the refineries,” General Director of KMG PM Daniyar Tiyesov said. “The signed memorandum of understanding confirms the readiness of our companies to make every effort for the implementation of the joint project, which carries both technical and economic benefits for our refineries.”

Kazakhstan has some oil refineries, which are located in Shymkent (country's southern part), Atyrau (western part) and Pavlodar (northern part). The total processing capacity of them is 13 million tons per year.

The main parts of Kazakhstan-France economic cooperation are oil and gas industry, mining, aerospace and nuclear industry, transport, engineering, banking sector and agriculture.

The trade turnover between the two countries amounted to $4.7 billion in the first nine months of 2014.

Kazakhstan mainly exports oil, metals and chemical products to France. Kazakhstan imports industrial equipment, medicines, cosmetics, cars, food from France.

Over the past nine years, French investments in Kazakhstan's economy amounted to about $10.8 billion. Around 150 companies with French capital have been registered in Kazakhstan.

The two countries are also cooperating in the production of aircraft and spacecraft.