Russian “GazProm” acquires Kyrgyz Gas Company

Bishkek. April 10. Silkroadnews – The  Managing Committee’s Chairman of “GazProm” Alexey Miller  and the General Director of JSC “Kyrgyzgaz” Turgunbek Kulmurzayev has signed an agreement to sell 100% of “KyrgyzGas” Charter Capital to “GazProm”.
This acquisition happens within the framework of governmental agreement between Russia and Kyrgyzstan on cooperation in the spheres of transportation, disposition and realisation of natural gas in Kyrgyzstan.
As the company now became “GazProm Kyrgyzstan”, it will have its gas pipelines and equipment modernised. Kyrgyyz population living in remote areas will also get a more stable gas supply.
With acqusion of “KyrgyzGas” assets, “GazProm” also gets USD 40 mln worth of debt as well as physical assets that require USD 600 mln investment to be modernized.