Royal Dutch Shell affirms commitment to Kazakhstan

The Royal Dutch Shell plans to continue cooperation with Kazakhstan in the nearest 25 years, Andrew Brown, Chief of the company's R&D Department, said at a meeting of the Kazakh President with European businessmen in Brussels.

"We are active participants of Kashagan project - one of the world's largest deposits. We are satisfied with stable, reliable and increasing output at Kashagan. We also expect growth in the nearest several decades," said Brown.

According to him, the Agreement on Friendly Settlement of Disputes on Objectivity Index signed recently between the Government of Kazakhstan and Karachaganak project stakeholders including the Royal Dutch Shell "opened new opportunities for the inflow of additional investments." "I would like to thank the President of Kazakhstan and ministers for the improvement of business climate, for application of the OECD principles, especially in regards to the Environment Code," the speaker noted.

The point at issue is the associated membership of Kazakhstan in the OECD Investment Committee, the country's accession to the International Investment Declaration and consideration of foreign investors' proposals in elaboration of the new Environment Code. He added that the energy development scenario offered by the Royal Dutch Shell this year provides for full decarbonization of the global economy and complies with the theme of the EXPO-2017 "Future Energy."

"This scenario proves that oil and gas will be a key part of the global energy system in the nearest several decades. Kazakhstan which ensures stable delivery of energy and develops renewable sources, will be a part of this new era," said Brown. The plan proposed by the Royal Shell Dutch will enable the people to move from using oil to low-carbon decisions to prevent global warming by 2°. Brown added that his company hopes for another 25-year-period of partnership with Kazakhstan in energy sector.

Reported by Kazinform.

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