GAC finding success early in Kazakhstan
The increasing importance of Central Asia in the world oil and gas business has prompted Middle East logistics major GAC to establish a new subsidiary in Kazakhstan, the company said Monday.
GAC Kazakhstan LLP was officially registered in June in Almaty, the country's old capital and commercial center.
The “initial goal was to secure logistics business conducted with GAC China, which has seen significant growth over the past two to three years,” GAC said in a statement. “That business consists primarily of movements from China to Kazakhstan and Turkmenistan, much of which is pipes and casings for the booming local oil and gas sector. Expansion of GAC's marine operations into Kazakh waters is a natural progression of the company's activities off Turkmenistan.”
GAC has set up links with Chevron, which is a major shareholder in the country’s biggest oil producer, Tengiz.
'Central Asia and the Caspian Sea are now essential bases to cover if you're serious about oil and gas,' said Matthew Towse, GAC’s general manager for the region. 'Kazakhstan has some of the world's largest oil reserves, including the massive Kashagan field in the North Caspian Sea, the largest oil find in the last 30 years. Anticipated future demand for both logistics and marine services in the area is huge.'
GAC also said the handling of exports of Chevron's Kazakh oil has been a driving force in the company’s increased presence and activities in Ukraine. And plans are underway for a second office, in Aktau, on West Kazakhstan's Caspian coast, the operational center of the country's oil and gas and marine industries.