MOU was signed to import oil from Kazakhstan
Prime Minister S.Bayar exchanged points of view with Kazakhstan Prime Minister Masimov.K.K regarding the deepening of relationship of two countries and cooperation in investment, while attending the meeting of Prime Ministers of Shanghai Cooperation Organization, held at Astana Kazakhstan.
One of the main topic was to import crude oil from Kazakhstan. Prime Minister S.Bayar proposed President Nazarbayev to import up to 1.5 million tons of crude oil from Kazakhstan and Kazakh side received with great appreciation. Prime Minister held negotiation on MOU with Kazakhstan side regarding importing crude oil and oil products from Kazakhstan and General Mr. Sodbileg, the General Director of Monoilgas and Mr. Kabaldin, General Director of “Kazmunaigas” signed in the MOU.
According to the MOU, Mongolia will import 150.0 thousand tons of oil products starting from 2009 and 1.2-2.0 tons of crude oil.
The MOU will take effect for 5 years.
Hence our Government has another option to expand its oil product import source and its plan to drill oil domestically, extract and supply domestic needs, is started to become real. Mongolia is planning to import its crude through China and it was supported by Prime Minister Wen Jiabao during the meeting.
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