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Gazprom to invest about $500 mln in Kyrgyzstan in 2015-17

Date:2015-02-12 | Read(641)

BISHKEK Jan 30(Reuters)-Russian strate gas producer Gazprom will invest 34 billion roubles ($495 million) in 2005-17 to upgrade and expand gas infrastructure it acquired in Kyrgyzstan and ensure stable gas supply,Gazprom CEO Alexei Miller said on Friday.
Under a 25-year agreement signed in July 2013,Gazprom paid a symbolic $1 to acquire state gas company Kyrgyzgaz and take over the Central Asian nation's gas network.
The deal stipulated that Gazprom,Russia's gas export monoply,would guarantee the development and upgrade of Kyrgzstan's gas equipment and pipelines,as well as uninterrupted supplies of gas to local consumers.
Under this plan,the existing gas network will be upgraded in all seven regions of Kyrgyzstan and exploration works will be conducted to prospect for country's own gas reserves.