Kazakhstan buys not less than 2.77% in oil project Kashagan - newspaper

/IRBIS, November 26, 04/ - Information below is translated abstract of REUTER's news. Government of Kazakhstan will buy as minimum 2.77 percents in the project of developing of giant Caspian field Kashagan nearly for $300 m., informed on Friday Novoye pokolenie newspaper with reference to the source. Ministry of energy of Kazakhstan said, that he does not possess this information. "Despite of dissatisfaction of participants of Northern Caspian project (Kashagan), republic acquires at least 2.77% of shares, paying nearly USD300", - in the article of Novoye pokolenie newspaper written with reference to "reliable source". "I did not tell this", - said minister of energy and mineral resources of Kazakhstan Vladimir Shkolnik to Reuter in response to comment information of newspaper. In summer of this year Kazakhstan unexpectedly announced about intention to acquire 16.67% stake of leaving British BG, which planned to buy the rest participants - ENI, Royal Dutch/Shell, Total, ExxonMobil, ConocoPhillips. BG and other participants of consortium doubted in relevancy of claims of Kazakhstan for the right of primary redemption, and since that time negotiations are held. "We want to buy maximal - 16.67%. Different companies have different opinions. We seek consensus. Negotiations are being held", - said Shkolnik to Reuter correspondent. In the beginning of November Shkolnik said, that all shareholders of Kashagan agreed for participation of Kazakhstan in the project. However ExxonMobil and ConocoPhillips after this announced that still they are not agree with position of Kazakhstan. Parliament of Kazakhstan nearly two weeks ago has taken and gave for signature to president Nursultan Nazarbayev law, giving government primary right of redemption of stakes in all oil projects, if some of participants decide to leave. Nazarbayev have not yet signed this document. [2004-11-26]