Kazakh hydrocarbon expert Olzhas Baidildinov predicts that Russian company Lukoil's stakes in the Tengiz and Karachaganak projects will be transferred to American and European investors at a reduced price.

"Gunvor would like to buy Lukoil's foreign assets, but it won't be able to because the US hasn't approved the deal. I think Lukoil's stakes in Tengiz and Karachaganak (and possibly CPC as well) will ultimately go to American/European companies at a significant discount.",” Baidildinov wrote on his Telegram channel.

He believes Astana will be able to negotiate a share of the deal. The expert attributes this process to US sanctions against Lukoil, which forced the company to curtail its foreign operations. Official negotiations regarding the asset transfer have not been announced.