Gazprom’s Move Into Kyrgyzstan

As reported by Reuters, Gazprom recently signed a memorandum of understanding (MOU) with Kyrgyzstan which will help it buy a stake in Kyrgyz state-owned gas company Kyrgyzgaz, the state gas export monopoly.  As the article notes

“…the memorandum was signed in Bishkek as part of Russia’s President Dmitry Medvedev’s visit to Kyrgyzstan and allowed the parties to work out principles of Gazprom’s participation in the privatization of Kyrgyzgaz.

The Kyrgyz government invited Gazprom to take part in the planned privatisation of Kyrgyzgaz and another state-owned company, Kyrgyzneftegaz, in February this year.

Kyrgyzstan, more known for its metals reserves, remains a small player on the Central Asian energy market, which is dominated by oil-rich Kazakhstan and gas exporter Turkmenistan.

It produces about 70,000 tonnes of oil and 30 million cubic metres of gas a year, but the government says there are sizeable unexplored hydrocarbon reserves.

The country’s proved reserves of natural gas are estimated at 6 billion cubic metres. By 2010, Kyrgyzstan is forecast to produce 40 million cubic metres of gas a year, Gazprom said.”

This entry was posted on Friday, October 10th, 2008 at 2:33 am and is filed under Gazprom, Kyrgyzstan, Russia.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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