Wednesday, April 25, 2012 -
Russia’s oil giant Gazprom will take a major role in opening up Kyrgyzstan’s petroleum industry following a package of deals outlined Wednesday by a senior official of state gas company Kyrgyzgas.
Deputy General Director of Kyrgyzstan’s state gas firm Eugene Orlenko told journalists in the capital Bishkek that Gazprom will acquire a stake later this year in Kyrgyzgas, as well as develop the country’s gas fields and take charge of some export deliveries.
The Russian and Kyrgyz energy firms are negotiating a deal “to be signed in August or September this year” that will give Gazprom a stake in Kyrgyzgas, the KyrTAG news agency reported Orlenko as saying.
He said the Kyrgyz government aims to sell a 75 percent chunk plus one share of the company.
The Bishkek government owns 82 percent of Kyrgyzgas, which has been valued at around $20 million by regional consulting services company Deloitte & Touche CIS.
Gazprom will also be expected to invest around $500 million over five or six years to restructure and modernize the company.
Orlenko told the press that under another deal will be signed between both sides later this year, which will see Gazprom producing natural gas from the East Kugart and Maili-Suu IV fields in 2015.
The Kyrgyz official also announced that the Russian state oil and gas firm will pump gas to Kyrgyzstan via a pipeline from the Caspian Sea that crosses through Kazakhstan and Uzbekistan.
Uzbekistan and Kazakhstan will provide supplies for that pipeline, Orlenko said.
“Gazprom will purchase 12 billion cubic meters of gas from Uzbekistan and 10 billion cubic meters from Kazakhstan,” said Orlenko.