October 03, 2017
The Contract of historic significance on supply of 5 billion cubic meters of gas within one calendar year has been signed between the Republic of Kazakhstan and Peoples’ Republic of China. The expected export revenue of the National Operator – KazTransGas JSC should make approximately 1 billion US dollars.
The purchase and sale contract has been signed between KazTransGas JSC and PetroChina International Company Limited. Export gas supplies are planned to be started from October 15th. The field deposits on the west of Kazakhstan as well as gas reserves from underground gas storages of KazTransGas JSC will make the resource base. Khorgos border point is determined by Chinese party as the location for gas acceptance.
It should be noted that the Intergovernmental agreement between Kazakhstan and Uzbekistan on mutually beneficial cooperation in the sphere of natural gas transportation and transit, which allows implementing gas supply from the western field deposits of Kazakhstan to the southern regions by transit across Uzbekistan, preceded this contract. This agreement will allow ensuring stability in provision of the southern regions of Kazakhstan with resources within the winter period and ensuring stable gas supply for export to China at the same time. The arrangements achieved by the governments of two countries give a new impulse to interrelations of gas companies making them as constructive and mutually beneficial.
As the Vice President for Gas Transportation and Marketing of KazMunayGas NC JSC, Mr. Kairat Sharipbayev pointed out: “Diversification of transit and export routes of Kazakhstan gas transportation as well as increase in export volumes of blue-sky fuel – are the important strategic objectives, which have been assigned by the President of Kazakhstan. The Head of State noticed that “for complete achievement of transport and transit potential of the country it’s required to ensure freedom of cargo transit, create new transportation corridors”.
The activity, held by the National Operator, KazTransGas JSC, completely meets the strategic plans of Kazakhstan on development of new Eurasian logistic infrastructure. Kazakhstan gas supplies to China will facilitate bilateral mutually beneficial relations, focused on establishment of general infrastructure and arranging of trade and transport connections between the countries of the Eurasian region.
KazTransGas JSC is a main gas energy and gas transportation company of the Republic of Kazakhstan, which represents interests of the government both in domestic and foreign gas market. The company controls the centralized infrastructure on commercial gas transportation via main gas pipelines and gas distribution networks, ensures international transit and is engaged in the sale of gas in domestic and foreign markets, develops, provides funding, builds and operates the pipelines and gas storages.
KazTransGas JSC Press service
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