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Kazakhstan - KMG EP Management Changes.

In March 2010, KMG EP announced that Askar Balzhanov, managing director of the company, was elected as chairman of its board of directors. In addition, the board appointed Kiykbay Eshmanov a member of the firm's management board, replacing Bagitkali Biseken as the director of UzenMunaiGaz (UMG) production unit.

The committees of the board of directors were also formed. The board of directors of KMG EP then considered a range of commercial issues, staffing and organisational matters. In particular, the board members considered protesters' demand for the resignation of the CEO of KMG EPt, Kenzhebek Ibrashev. The board, however, in March decided he should remain in office.

KMG President and CEO Kairgeldy Kabyldin in 2009 proposed a shift from west to east for much of Azerbaijan's natural gas exports. He suggested that the gas be pumped to China by pipeline through Kazakhstan (see omt6KazkhExprtAug9-10).

Oraz Zhandosov, a former Kazakh trade, industry, and economy minister who is now leader of the opposition Naghyz Ak Zhol party, in June 2006 claimed Kulibayev's appointment was a continuation of presidential politics at the expense of sound government, adding: "It happened long ago and it continues. [Kulibayev's appointment] is a conflict of interest". Zhandosov, former National Bank chairman, on Jan. 8, 2007, said the resignation of Akhmetov as PM was expected "because he has done little good" for the economy, adding: "He was weak in terms of ideas and ability to build a good team".

In late 2000 Kulibayev became CEO of KazTransOil (KTO), the oil pipelines unit of KazakhOil, while Uzakbay Karabalin became CEO of the gas pipelines unit KazTransGaz (KTG). In May 2001 Kulibayev was made CEO of TransNefteGaz (TNG), in charge of both KTO and KTG. Kulibayev was behind the February 2002 merger of all units into the holding company KMG, which boosted his position. KMG's head of the upstream, Vladimir Miroshnikov, later said the new firm was copying Norway's example of having an integrated super-company similar to StatoilHydro.

Kulibayev wants to turn KMG into an empire, but more like Saudi Aramco than Statoil. He will control the Ministry of Energy and Mineral Resources and make sure it will play in the petroleum sector the role which suits this company.
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Publication:APS Review Downstream Trends
Date:Aug 9, 2010
Previous Article:Kazakhstan - Timur Kulibayev.
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