USD/KZT 418.17 
EUR/KZT 494.07 

BEIJING. April 28. KAZINFORM /Talgat Baymuhambetov/ The loan contract between JSC NC KazMunaiGaz and China National Petroleum Corporation CNPC in the amount of USD 5 bln has caused lively debate and exchange of views in the Kazakh and foreign media. Senior researcher of the Chinese Center for Energy Strategy, Professor Pang Changwei believes the agreement showed the continued implementation of China's policy of loans - in exchange for resources. It turns out that the Chinese model of energy cooperation is currently being implemented at the regional level between the SCO member states. Such loan contracts were signed with Russian companies Rosneft and Transneft, totaling USD 25 bln, so the contract with KazMunaiGaz is the continuation of this policy. In Professor Pang Changweis view, the growth of Chinese economy's increasing demand for oil will reflect positively on the growth of the economies of countries exporting energy. In addition, such loan policy allows Beijing to stabilize the relationship between suppliers and consumers of energy. The crisis will not be around forever, and eventually, the world market will be in great necessity for hydrocarbons. Thus, the energy suppliers will be prepared for a new round of energy demand on the world oil market after overcoming the effects of the financial crisis.


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