50% of KazRosGas shares transferred in trust to KazTransGas JSC

ASTANA. KAZINFORM - "KazMunayGas" NC JSC has decided to transfer a 50% stakes in LLP "KazRosGas" in trust to "KazTransGas" JSC. The decision was made by the Management Board of "KazMunayGas" NC JSC June 18, 2015, the press service of JSC "KazTransGas" informed.

"KazTransGas" JSC as a national operator of Kazakhstan in the sphere of gas and gas supply will manage the activities of the joint venture. "KazRosGas" company is formed on a parity basis by the national company "KazMunayGas" NC JSC and "Gazprom" JSC. The company is established for the purpose of efficient performance of terms of the Agreement between the Government of the Republic of Kazakhstan and the Government of the Russian Federation about cooperation in gas industry as of November, 28th, 2001. The basic functions of the company have been defined - carrying out of operations with the Kazakhstani natural gas, including marketing, processing, transportation, realization of gas and products of its processing in the internal and external markets. Activity of "KazRosGas" company is connected with recovery of the gas produced on Karachaganak oil-gas condensate field - one of the largest fields in the world with reserves of more than 1,2 billion tons of liquid hydrocarbons and 1,3 trillion cubic meters of gas. The field is being developed by a consortium "Karachaganak Petroleum Operating B.V.". "KazTransGas" JSC is the national operator of Kazakhstan in the sphere of gas and gas supply. The group of companies "KazTransGas" JSC includes businesses and organizations on recovery, transportation and sale of gas and refined products.

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