Gazprom will acquire a controlling stake in Kyrgyzstan”s national gas company, following agreement between the Russian energy giant and the Kyrgyz government, Kyrgyz ambassador to Moscow said on Wednesday.
“The issue of Gazprom”s direct participation in the privatization of Kyrgyzgaz and its acquisition of a controlling stake has been settled,” Raimkul Attakurov said.
The Kyrgyz parliament committee for international affairs approved on June 15 a draft intergovernmental agreement on Gazprom”s participation in the sale of a government stake in Kyrgyzgaz.
Tursun Turdumambetov, chairman of the Kyrgyz State Committee for State Property Management, told parliament the Russian government proposed acquiring 75% plus one share in the national gas company.
The Russian side undertook to supply Kyrgyzstan with natural gas at tariffs approved by the Kyrgyz government, and also to modernize and upgrade equipment and carry out major repairs of trunk gas pipelines.
An estimated $400 million is required to bring the state of the Kyrgyz gas industry up to an acceptable standard.
