EBRD finances kazakhstan gas projects for the first time.

PRESS RELEASE

President of the European Bank for Reconstruction and Development Suma Chakrabarti and Chairman of the Board of Directors of JSC “KazTransGas” Kairat Sharipbayev signed an agreement in Astana on the financing of several Kazakh projects of the gas industry. According to the signed documents, the EBRD allocates 294 million euros for the implementation of two projects of KazTransGas JSC.

The funds will be used for reconstruction and overhaul of the underground gas storage facility “Bozoy” in order to ensure reliable, safe and continuous operation.

Additional storage volumes will help to provide the necessary energy reserve for new export routes and will become a solid base for the reliable operation of the Beineu-Bozoy-Shymkent gas pipeline.

Within the framework of the second project, the EBRD will allocate 52 million euros to KazTransGas Aimak JSC for the implementation of projects on modernization, reconstruction and new construction of gas distribution networks of settlements in Mangistau and Aktobe regions.

The allocated funds in these areas, the reconstruction of old and construction of new gas distribution networks will increase the coverage of natural gas consumers by 12 thousand subscribers. In addition, the implementation of the project and the transfer of the main industrial facilities of the region to environmental fuel will expand production, increase employment and improve the environmental situation.

During the signing of the loan agreements, EBRD President Suma Chakrabarti said: “We are consistently working with Kazakhstan to develop mechanisms for a green economy, but the transition to cleaner energy sources allows us to achieve immediate effect. Gas is a cleaner source of energy than coal and complements renewable energy sources. We are pleased to start cooperation with KazTransGas and continue our close partnership with Kazakhstan, taking these important steps towards a sustainable economy of the future.”

Chairman of the Board of Directors of KazTransGas Kairat Sharipbayev noted that “this agreement contributes to the solution of the tasks set by the Head of state N. Nazarbayev before the gas industry.

– Today we have the most modern gas transportation system and occupy a leading place in the Central Asian region, both in the length of the main gas pipelines and in the main transit of natural gas. All new projects are aimed at ensuring energy security and efficient use of transit opportunities of our country. Only last year “KazTransGas” implemented two large-scale projects – the third line of the main gas pipeline “Kazakhstan-China” and the gas pipeline “Beineu-Bozoy-Shymkent” were put into operation. The work done confirms the well-deserved trust of major partners, so other joint projects with the EBRD are possible in the future. Now there is a discussion of new opportunities for investment and technical cooperation in the field of energy efficiency”, – said Kairat Sharipbayev.

АО “КазТрансГаз” – национальный оператор Казахстана в сфере газа и газоснабжения. В состав группы Компании АО «КазТрансГаз» входят добывающие, транспортирующие и реализующие газ и продукты его переработки предприятия и организации.

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