UPDATE 1-Former sovereign fund boss named as Kazakh energy minister

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds context) ALMATY, April 4 (Reuters) - Kazakh President Kassym-Jomart Tokayev named Almasadam Satkaliyev, previously head of the oil-rich Central Asian nation's sovereign fund, as energy minister on Tuesday, the president's office said. His predecessor Bolat Akchulakov, who this week announced
unpopular plans to raise fuel prices, was made a presidential adviser. As minister, Satkaliyev, will be involved in talks with the OPEC+ group on further output adjustments, as well as in negotiations with Russia's Gazprom which seeks to sell gas in Central Asia after losing the European market. Satkaliyev previously ran KEGOC, Kazakhstan's electric grid company, and briefly worked as a deputy energy minister. Another one of his key tasks will be diversifying Kazakh oil exports, most of which go through Russia - a route that has become more risky due to the Ukraine conflict. (Reporting by Olzhas Auyezov Editing by Gareth Jones and Andrew Heavens)

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