ALMATY, Kazakhstan, July 24 (UPI) -- Russian natural gas company Gazprom said it was considering extending its working relationship with its counterparts in Kazakhstan through the 2030s.
Deputy Gazprom Chairman Alexander Medvedev met in Astana with Kazakh Oil Minister Uzakbai Karabalin to review the Russian company's future in the former Soviet republic.
"The parties discussed further cooperation in the gas sector and, in particular, the extension of the long-term agreement till 2038 -- on purchase and sale of gas produced from the Karachaganak gas and condensate field," Gazprom said in a statement Wednesday. "A focus was also placed on the prospects for the joint development of the Imashevskoye gas and condensate field."
Kazakhstan is a net importer of natural gas. Much of its domestic gas is used to enhance production from its vast oil fields. It has 85 trillion cubic feet of proven natural gas reserves and Karachaganak and Imashevskoye combine to represent 53 percent of that volume.
Gazprom has a joint venture with the Kazakh state energy company, which was established in 2002.
In 2013, the Russian company sold 236 billion cubic feet of natural gas in Kazakhstan.
