Monday, 19 July 2004

KAZAKH ANTICORRUPTION BODY TARGETS FOREIGN OIL FIRMS

Published in News Digest

By empty (7/19/2004 issue of the CACI Analyst)

Kazakhstan\'s financial police have charged BG Karachaganak, a subsidiary of U.K.-based British Gas, with smuggling $2.
Kazakhstan\'s financial police have charged BG Karachaganak, a subsidiary of U.K.-based British Gas, with smuggling $2.73 billion worth of natural gas condensate to Russia, gazeta.ru reported on 19 July. Top finance police officer Sarybai Kalmurzaev told a 19 July news conference that damages to the state are estimated at $5.4 million. According to Kalmurzaev, the investigation will take at least 7-8 months. Another criminal case levels price-fixing charges at Canada\'s PetroKazakhstan. Kazakhstan\'s antimonopoly agency charges that PetroKazakhstan and its affiliates colluded to circumvent antimonopoly legislation and generate illegal profits of $96 million. Kalmurzaev stressed that the companies involved \"have excellent specialists and consultants who find loopholes in our laws.\" He promised, however, that the cases will be brought before a court of law. (Interfax-Kazakhstan)
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The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.

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