Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 09 Feb 2023 by Alexander Kudrin
Aeroflot: The Russian company will resume its regular flights to Kazakhstan in February Jan 30 QazaqGaz: The company and Italian Eni discussed possible prospects for cooperation in f the construction of the Kashagan gas processing plant Jan 31 National bank: The current account surplus for FY22 reached $6.3 bln. In 4Q22, it turned into a deficit ($1.8 bn). Feb 1 World Bank: The bank appointed Ukrainian Andrey Mikhnev, the former head of its office in Mongolia, as permanent Representative in Kazakhstan Bureau of National Statistics: Inflation in Kazakhstan in Jan reached 1.1% (20.47% y-o-y) Energy Ministry: Kazakhstan wants to increase oil exports via CPC by 8.7 in 2023% Energy Ministry: The country plans to increase production at the Kashagan field in 2023 by 43% to 18.2 mln tons Energy Ministry: Kazakhstan will send 20K tons of oil via the Druzhba pipeline to Germany in the first half of February Energy Ministry: Tengizchevroil in 2023 plans to reduce oil production by 4.5% to 27.9 mln tons, gas by 3.7% to 15.5 bcm Energy Ministry: Kazakhstan expects an annual inflow of $0.9 bn of private investment in the energy sector due to the “tariff-for-investments” program Feb 6 Energy Ministry: Kazakhstan and LUKOIL signed a contract for hydrocarbon extraction at the “Kalamkas-Sea” field. Investments can reach $6 bn. Feb 8 OFAC: The former subsidiary of Sberbank in Kazakhstan (now Bereke bank) is likely to be removed from the sanction list in March

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