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Kazakhstan to Review Energy Contracts
Photo by Lois Kapila.
In a move that is sure to be heavily scrutinized over baited breath these next few weeks, the government of Kazakhstan has announced that is in the process of reviewing several exisiting energy contracts. According to several people familiar with the inquiry, some of the contracts may have been concluded illegally. Reuters has been covering the breaking story.
According to the Ministry of Finance’s tax committee chairman, Daulet Yergozhin, “We have analysed PSAs signed earlier and there are some questions… regarding the legality of some contracts,” Additionally, he said the review would be completed by April 1 but did not name any specific contracts or companies that were to be reviewed.
The move to review 1990′s era energy contracts come in the wake of Presdient Nazerbayev looking once more at removing special tax benefits that foreign energy companies recieved during the early bonanza of Western energy contracts.
(Courtesy of Reuters India)
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