The main gas company of the country KazTransGas JSC held a solemn meeting dedicated to the Independence Day of the Republic of Kazakhstan. The Central office in Nur-Sultan was contacted online by the teams of the group of companies from the regions.
Deputy Chairman Of the Board of JSC NC “KazMunayGas”, Chairman of the Board of Directors of JSC “KazTransGas” Kairat Sharipbayev congratulated on the main national holiday of Kazakhstan, and also told about the main achievements of the domestic gas industry.
He noted that since gaining independence, our people have continued the great history of Kazakhstan with new achievements and successful transformations. “Kazakhstan took place as a sovereign country with a strong statehood, a growing national economy. According to tradition, the group of companies of JSC “KazTransGas” meets this holiday with excellent results. This is very important, because modern realities are such that the oil and gas sector continues to be a very important part of the country’s economy”, he said.
In recent years, KazTransGas has become the most profitable portfolio company of the Samruk-Kazyna group of companies and at the same time the most profitable asset of the oil and gas sector of the country. Only foreign exchange revenue over the past 5 years amounted to 17.2 billion dollars, a figure comparable, approximately, with the annual budget of individual countries.
As it was noted, if five years ago, the losses of KazTransGas amounted to 20 billion KZT, now the company shows an average profit growth of 20% per year. This year the group of companies of KazTransGas JSC expects to post a net profit of 330 billion KZT. At the same time, the group’s revenue is more than 2 trillion KZT, which also became a record figure.
Since 2014, debt obligations have decreased by 2 times, $ 6.5 billion has been repaid and the total debt has decreased from $ 12 billion to $ 5.7 billion.
Over 475 billion KZT has been transferred to the budget in the form of tax deductions alone for five years and this is a huge contribution to the country’s economy. According to the Chairman of the Board of Directors of the company, it can be argued that the gas industry is becoming one of the iconic areas of the economy of Kazakhstan.
Today, the national operator group of companies is a powerful, modern, highly profitable company. This was made possible due to the fact that at one time there was a bet on improving the efficiency of business processes, the introduction of innovative approaches to the management of gas transport infrastructure, strengthening personnel policy and a threefold increase in labor productivity. For five years, only the profit per employee has increased fivefold.
All this allows for sustainable transit and export of gas and uninterrupted supply of the domestic market. Neighboring States already consider Kazakhstan to be the most important gas partner, having given it the status of the Central Asian gas hub. Proof of this can be called the resumption this year of transit of Turkmen gas through Kazakhstan to Russia via the main gas pipeline “Central Asia-Center”.
In his speech, the Chairman of the Board of Directors of the company noted that modern realities require new approaches-the creation of the productions engaged in deep gas processing and gas chemistry.
The achieved results have a positive impact on the international ratings of the company. KazTransGas JSC has two investment credit ratings: from Fitch Ratings “BBB -” and from Moody’s rating “Baa3”, which reflects the strong financial stability of the company and its high creditworthiness.
Summing up the results of this year’s work, Kairat Sharipbayev stressed that everything planned by KazTransGas has been fulfilled and this is the merit of our entire cohesive team.
During the event via the online connection veterans of the industry, heads of subsidiaries and dependent companies of KazTransGas JSC conveyed their congratulations.
The ceremony was continued with the presentation of departmental awards and diplomas to the best employees of the gas industry.