: / In Kyrgyzstan / Economy

Kyrgyzstan Review, 10 years ago

[19.02.24] Gazprom to Manage 85% of Kyrgyzneftegaz Shares

OAO Gazprom plans to receive trustee management of 85.16% of shares in Kyrgyzneftegaz, company Deputy CEO Alexander Ryazanov said after talks with Kyrgyz Prime Minister Nikolai Tanayev.
"We want to manage Kyrgyzneftegaz, develop it, receive profit, pay taxes, supply the republic with fuel and produce oil and gas in Kyrgyzstan, as there are promising fields here," Ryazanov said.
He said that the Kyrgyz government should decide in the near future under what conditions Kyrgyzneftegaz will be transferred to Gazprom. "We do not know whether a tender will be announced or if it will be a direct transfer, but in any case we have submitted a bid," Ryazanov said. He said that this issue should be resolved quickly, as it has the support of the Kyrgyz government.
"Gazprom specialists plan to study the situation at Kyrgyzneftegaz in the near future and will draw up an agreement and a business plan. But given that the sowing season is nearing and fuel is needed, this Kyrgyzneftegaz issue should be resolved as quickly as possible," he said.
He said that the Gazprom delegation and the Kyrgyz Prime Minister also discussed restoring trunk gas pipelines. "We need to work seriously on gas pipelines, in Kyrgyzstan they travel through the north and the south and the northern pipeline supplies fuel to Almaty. We spoke about this without Kazakh colleagues and would like to participate in the process of reconstructing the trunk pipeline, as Gazprom has a lot of experience in this area," he said.
He also said, "a certain amount of investment is required to participate in projects in Kyrgyzstan, which has not been included in the Gazprom investment program, but this will more than likely be amended at the end of the first half."
Regarding the opening of an office in Bishkek, Ryazanov said that Gazprom "will definitely open a regional office in Kyrgyzstan." "At the moment we are deciding whether this will be a representative of Gazprom, or one of its subsidiaries, for example Zarubezhneft," Ryazanov said, adding that a decision should be reached within the next six weeks.
Interfax, February 19, 2004

More on the issue: