Kazakhstan to Hold Majority Stake in All Oil, Gas Pipeline

Kazakhstan will hold majority stakes in new, large oil and natural-gas pipelines, according to a law adopted by parliament.

Bloomberg has reported citing Oil and Gas Minister Sauat Mynbayev that the government must have no less than 51 percent in any new pipelines. The decision taken by the parliament has to be signed by the government before coming into force.

The Kazakh law may affect the $39 billion Kashagan project being developed by Eni SpA, Royal Dutch Shell and Exxon Mobil. because the partners plan a pipe to link a treatment plant in Atyrau with Kuryk port, Bloomberg said quoting Mynbayev said.