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central asia

Russia and Kazakhstan push for hydrocarbon expansion with projects in Caspian | Source: Neftegaz Ru

Kazakhstan’s President Kassym-Jomart Tokayev revealed that Russia’s oil giant Lukoil would help Central Asia’s largest country develop oil fields located in Kazakhstan’s portion of the Caspian Sea. He stressed that they already started developing the large Kalamkas-Sea and Khazar fields. Kalamkas-Sea is an offshore field located in the northeastern part of the Caspian Sea, near the giant Kashagan field – one of the world’s largest discoveries of the past 4 decades. The total project cost will be about $5 billion.

Source: Neftegaz Ru


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Asia Pacific

China’s Belt and Road plans losing momentum, according to a study by AidData | Source: Euractiv

General view of a construction site in the central business district of the new administrative capital, 45 kilometers east of Cairo, Egypt, 16 March 2021.

China’s vast Belt and Road Initiative (BRI) is in danger of losing momentum as opposition in targeted countries rises and debts mount, according to a study by AidData. The study said an increasing number of China-backed projects have been suspended or cancelled since BRI’s 2013 launch, with evidence of “buyer’s remorse” in countries as far afield as Kazakhstan, Costa Rica and Cameroon. AidData said $11.58 billion in projects in Malaysia have been cancelled over 2013-2021, with nearly $1.5 billion cancelled in Kazakhstan and more than a $1 billion in Bolivia. The survey found that 35% of BRI projects were struggling with corruption, labour violations, environmental pollution and public protests. AidData’s study received funding from a diverse group of private and public organizations, including the Ford Foundation and USAID.

Source: Euractiv


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