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Russian official: Kazakhstan, Russia need common strategy on energy market development
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16:27, October 09, 2008

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Kazakhstan and Russia need to adopt a common strategy on energy market development, a senior official of the Russian parliament said Wednesday, according news reports from Almaty.

Russia and Kazakhstan would play important roles in promoting Europe's and Asia's intercontinental energy cooperation due to framework changes on the global oil market and geopolitics, Vadim Gustov, the head of the Russian Federation Council's committee forCIS affairs, said at the 16th Kazakhstan International Oil and Gas Conference (KIOGE-2008) in the Kazakh city of Almaty.

The two countries should draw up and adopt a common strategy for developing the joint energy market at intergovernmental level, which would focus on making laws to boost bilateral trade and energy cooperation, ensure smooth transportation of energy resources and coordinate on tariff and tax policies, Gustov was quoted by the Kazakh news agency as saying.

Gustov believed that the establishment of a common energy market within the two countries would strengthen the mutually beneficial relationship in energy cooperation, facilitate domestic supply and expand energy exports.

The Russian-Kazakh energy market could become "a basis for forming a single energy space within the Eurasian Economic Community" in the future, he added.

Source: Xinhua



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