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Kazakhstan Looks To Buy Stake In Gas Field

Kazakhstan is prepared to pay up to $1.1 billion to be part of the international consortium developing the Karachaganak gas field and settle an ownership row.

    Kazakhstan is prepared to pay up to $1.1 billion to be part of the international consortium developing the Karachaganak gas field and settle an ownership row,Reutersreports. The country is looking to obtain a 10 percent interest in the field, operated byBG GroupandEni.

    Eni and BG Group are the largest shareholders in the consortium, holding 32.5 percent each.Chevronholds 20 percent and Russia’sLukoilowns 15 percent. Kazakhstan wants to control costs for the phase III development of Karachaganak.

    Click here for the story fromReuters.

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