Gazprom Buys Kyrgyzgaz for $1 Plus Debt

By The Moscow Times

April 10, 2014

Russia's top natural gas producer Gazprom has signed a deal to buy 100 percent of shares of Kyrgyzgaz for $1 and assumed the responsibility to repay $40 million of debt owed by the Kyrgyz gas producer, Itar-Tass reported.

Gazprom also pledged to invest no less than 20 billion rubles ($560 million) in the next 5 years in the Central Asian republic's 700-kilometer gas distribution grid upgrades.

"Currently, the country produces no less than 30 million cubic meters of gas per year and we intend to increase this volume as well as the number of gas consumers," Gazprom CEO Alexei Miller said.

Kyrgyzgaz will be renamed as "Gazprom-Kyrgyzstan."

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue