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Gazprom to aquire stake in Kyrgyzstan gas company

Published Oct 10, 2008
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Russia’s Gazprom has signed a Memorandum of Understanding with Kyrgyzstan to acquire a stake in state-owned gas company Kyrgyzgaz.

The Kyrgyz government invited Gazprom to take part in the privatisation of Kyrgyzgaz in February.

Kyrgyzstan is a minor player in the Central Asian oil and gas market, which is dominated by Kazakhstan and Turkmenistan. Kyrgyzstan produces about 512,100 bbl of oil and 1.06 Bcf (30 MMcm) of gas a year, but the

government believes there are significant unexplored reserves.

The country’s proved reserves of gas are estimated at 211.8 Bcf (6 Bcm). By 2010, Kyrgyzstan is forecast to produce 1.41 Bcf (40 MMcm) of gas per year, said Gazprom.