The agreement was reached during the 8th Meeting of the Mongolia-Turkey Intergovernmental Commission on Trade and Economic Cooperation, which was held here Wednesday. During the meeting, the Mongolian National Chamber of Commerce agreed to cooperate with the Foreign Economic Relations Board of Turkey, Turkish Exporters' Assembly and Turkish Chamber of Commerce and Industry.

The two sides will organize a bilateral joint meeting this year to share experiences in establishing a free zone, Xinhua reported.

Minister of Foreign Affairs D.Tsogtbaatar : “Information of geological research is invaluable. Although geological research is highly risky and needs a big amount of fund, it is significant to attract foreign investment based on the result of the research and make next plans.”

The issue of transferring the documents of the geological researches to Mongolia has been regularly discussed since 2008 during high-level meetings and meetings of the Mongolia-Russia Intergovernmental Commission and finally Mongolia acquires the highly significant documents now.

"The construction of the Power of Siberia gas pipeline is going on at a high tempo. It is a link between the gas production centers and consumers,” the company said in a statement after a meeting of its board of directors.

According to a contract signed in 2014 between Gazprom and China’s CNPC, Russia will deliver 38 billion cubic meters of gas to China annually for 30 years. The contract is worth $400 billion. Gazprom confirmed on Wednesday that deliveries will start in December 2019.

The Russian company has been building the pipeline from the gas deposit in Siberia to Russia’s Far East. At the border in Blagoveshchensk, the pipeline will be extended into China. Gas will be delivered both to Russian consumers in the Far East and to China.

Russia is pushing for second gas pipeline to China, the Power of Siberia 2. This pipeline is intended to deliver an additional 30 billion cubic meters of gas per year to Russia’s eastern partner. The countries have signed preliminary documents on the pipeline, but have not agreed prices.

Landlocked Mongolia, sandwiched between Russia and China, is mostly known in the natural resources sector for the huge Oyu Tolgoi copper prospect, operated by Rio Tinto .

The country is challenging because of its extreme weather and a legal system and young democracy that have caused problems for international investors, including tax wrangles and contractual disputes.

Petro Matad’s CEO Mike Buck said in an interview Mongolia was offering favourable terms for oil exploration and had untapped potential because, during the era of Soviet control over Mongolia, Russia had plenty of oil of its own, while China explored its reserves just over the border.

“There is no difference between the geology (compared with neighbouring prolific oil basins in China), but the exploration history is different,” Buck said. “Everybody knows the geology is the same, but no-one has been able to prove it by producing at a commercial rate.”

Although oil demand growth is expected to slow as the world shifts towards electric transport, Buck said Mongolia would need crude for a refinery it plans to build, with help from India.

A senior official from Engineers India Ltd, the state-owned Indian company providing consultancy, said a draft feasibility study is ready, but declined to give further details.

The refinery is expected to have a capacity of 30,000 barrels per day, while Mongolia’s oil output is around 21,000 bpd and declining, Buck said, citing official Mongolian figures.

Petro Matad has three exploration blocks totalling 60,000 square kilometres - one in the east, near Mongolia’s producing fields and two in central western Mongolia.

The drilling of four wells over the three blocks will begin by the end of the second quarter and be completed before the drilling season ends in November.

The block in the east could come onstream within 18 months of any discovery because it is near existing facilities operated by Petrochina, Buck said.

By the end of this year, Petro Matad’s exploration spending will have totalled $100 million since it began operating in Mongolia in 2006, including cash spent on seismic surveys and previous drilling. It has been raised through its stock market listing and $16 million late last year came from British-based institutional investors and U.S. funding.

Mongolia depends on Russia for almost all its oil products, which account for nearly a fifth of its import bill, central bank statistics show. (Additional reporting by Terrence Edwards and Munkhchimeg Davaasharav in Ulaanbaatar and Promit Mukherjee in Mumbai, editing by David Evans)

The project has 6 component parts. The main flyover between Olympics Street and Ikh Mongol Uls Street, passing over Narnii zam (Sun road) and the 406th railway crossing will be 470-meter long, 16.5-meter wide and will have 4 lanes.

The road on the east side of the National Amusement Park will be closed for a year-and-a-half due to construction work.

A total of 73 percent of Mongolians drink instant coffee, 20 percent medium coffee and the remainder Americano, the national survey said. Mongolians spend about MNT three billion on coffee in a year.

Coffee consumption is clearly rising: Mongolia imported 93.9 tonnes of coffee worth USD 803 thousand in 2017.

The Party representatives led by Secretary-General Ts.Tuvaan held a press conference today at the party's headquarters, holding an ordinance dated March 20 and signed by Party Chairman S.Erdene, which effectively excludes the former Minister from the party membership.

According to the Secretary-General, the party’s corresponding bodies have taken urgent measures after media reports surfaced regarding DP member S.Bayartsogt’s alleged link to corruption, thus resulting in expulsion.

Following its meeting today, the DP Political Council issued a statement saying, “The party believes that an individual must be held responsible before the law despite of his rank and power if he is found guilty by the court for establishing disadvantageous agreement on behalf of Mongolia or accepting bribe. We demand immediate and resolute actions to settle the recent corruption allegations against the members of former Prime Minister S.Bayar’s Cabinet and other Mongolian politicians.”

The statement also cites the possibility of reconsidering the 2009 Oyu Tolgoi Investment Agreement if S.Bayartsogt is convicted.

The Independent Authority Against Corruption of Mongolia (IAAC) also reported today that it is cooperating with the Office of the Attorney General of Switzerland on the investigation of a criminal case on former Minister S.Bayartsogt. The press release also confirmed the seizure of a certain of amount of money in a Swiss bank account. 
Kh.Aminaa