KazTransGas increases gas exports to China.

PRESS RELEASE

On October 12, 2018 in Beijing, KazTransGas JSC and PetroChina International Company Limited signed a long-term 5-year contract to increase the export of Kazakh gas to 10 billion cubic meters per year from 2019.

The first agreement on the export of 5 billion cubic meters of gas has been fully implemented.

The parties highly appreciated the joint work and technological capabilities of the gas transportation system of Kazakhstan.

Chairman of the Board of Directors of KazTransGas JSC Kairat Sharipbayev said that: “The double increase in the export of domestic gas became possible thanks to the strategy of the President of Kazakhstan Nursultan Nazarbayev on the development of the transit potential of the country and the Agreement signed by the heads of the two States”.

The signing of the contract was preceded by the hard diplomatic work of the Government and the national company “KazMunayGas”, as well as the modernization of Kazakhstan’s gas transportation system.

“In the near future, three high-tech compressor stations will be put into operation, which will increase the capacity of the main gas pipeline “Beineu-Bozoy-Shymkent” from 10 billion to 15 billion cubic meters of gas per year. Thus, we are increasing the capacity of Kazakhstan’s gas pipelines. We fully meet the domestic needs of the country and at the same time have the opportunity to increase gas exports to foreign markets. According to preliminary calculations, the increase in gas exports to China alone to 10 billion cubic meters will bring the country more than 2 billion foreign exchange earnings,” – Kairat Sharipbayev said.

The income received will allow the National operator to support Kazakhstan’s gas consumers, maintain a loan portfolio of 560 billion tenge and at the same time, increase the resource base and continue to upgrade the gas transportation system.

According to the results of activities for 9 months of 2018, the revenue of KazTransGas JSC amounted to 693 billion tenge (KZT). Consolidated net profit of the group of companies – 118.6 billion tenge, which is higher than the same period last year by 72.4 billion tenge or by 156%.

Today KazTransGas JSC is one of the largest taxpayers in the country. In 2018, the joint-stock company paid taxes and other payments to the budget in the amount of more than 52.4 billion tenge. The company employs more than 20 thousand people.

The conclusion of a contract with the Chinese side on the supply of Kazakh gas opens a new milestone in the development of the domestic gas industry.

“KazTransGas” JSC is the main gas energy and gas transportation company of the Republic of Kazakhstan, representing the interests of the state both in the domestic and foreign gas market. The company operates a centralized infrastructure for the transportation of commercial gas through main gas pipelines and gas distribution networks, provides international transit and sells gas in the domestic and foreign markets, develops, finances, builds and operates pipelines and gas storage facilities.

Press Service of “KazTransGas” JSC

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