Gazprom buys Kyrgyz gas company

April 11, 2014

On April 10 in Bishkek, in the presence of Kyrgyz President Almazbek Atambayev, the Gazprom Management Committee Chairman Alexey Miller and the Kyrgyzgaz Director General Turgunbek Kulmurzaev signed a Sales and Purchase Agreement for a 100 per cent stake in KyrgyzgazProm.

The company is the sole importer of natural gas to Kyrgyzstan and owner of the country's gas transmission and distribution systems. Once the transaction is closed, KyrgyzgazProm will be renamed Gazprom Kyrgyzstan.

“The acquisition of KyrgyzgazProm is a natural follow-up of our long-standing relations with Kyrgyz partners. Gazprom receives a direct access to Kyrgyzstan's market, and the country has guarantees of reliable gas supplies as well as a sound investment in an extensive retrofit and upgrade of gas transmission and production capacities. Gazprom becomes a strategic investor in the Kyrgyz economy,” said Alexey Miller.

Source: Gazprom Press Office, 2014