Kazakhstan: China: Alternative energy and nuclear in agreements between Beijing and Astana

world | Jun 15, 2011 | By Asia News

Astana (AsiaNews / Agencies) - China and Kazakhstanhave  signed a series of agreements for cooperation on alternative energy sources (wind and solar), but especially on the nuclear deals. Chinese President Hu Jintao, during his visit to the neighbouring nation, focused on strengthening ties with Astana above all, for its energy reserves.

The two countries decided to enhance oil and gas pipelines, as well as to cooperate in technology and medical care.

As of this year, Kazakhstan will start to supply China with uranium tablets in exchange, the Guangdong Nuclear Group will strengthen cooperation on nuclear energywith Kazakhstan. China also has investments in the oil business in the country. According to official estimates, Kazakhstan has 3% of global reserves of crude oil.

Fearful of inflation of the dollar, the agreements provide for a direct exchange between the yuan and tenge (Kazakh currency) to the value of one billion U.S. dollars.

Kazakh President, Nazerbayev and Hu Jintao, agreed to raise trade volume to 40 billion dollars by 2015.

After Kazakhstan, the Chinese president will go to Russia and Ukraine. China is Moscow’s largest trading partner . Here again, the agreements will focus mainly on energy: supply of gas, electricity, coal and renewable energy.


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Source: Asia News