Japan Bank for International Cooperation (JBIC) has signed four memoranda of understanding (MOUs) with KazMunayGas (KMG) and the Development Bank of Kazakhstan (DBK) to promote bilateral trade and investment in energy resource development in Kazakhstan.

The first covers a comprehensive strategic partnership with KMG for large-scale energy resource-related projects. This is the first MOU JBIC has signed for a comprehensive strategic partnership with an oil and natural gas company in a CIS country and will give KMG access to JBIC’s full financing menu.

A second MOU with KMG covers a standby multi-guarantee framework (SMGF) which determines the form of guarantee letters issued by KMG on projects jointly undertaken by KMG group companies and Japanese firms that are financed by JBIC.
The third memorandum is with DBK, and will facilitate consultations between the two parties for the early provision of an untied loan to DBK supporting energy resource-related infrastructure development.
The final MOU covers a global bank-to-bank loan for DBK that will promote exports by Japanese firms to Kazakhstan.
Large-scale oilfields are being developed in the Caspian area that embrace Kazakhstan and Azerbaijan and are attracting the attention of the Japanese oil industry as a new energy supply source outside of the Middle East.