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EBRD may support Kazakhstan in improving energy efficiency

EBRD may support Kazakhstan in improving energy efficiency

Nur-Sultan, May 15 - Neftegaz.RU. European Bank for Reconstruction and Development (EBRD) may provide two senior loans to subsidiaries of KazTransGas, which is Kazakhstan’s national gas operator, Trend.az reports.

The EBRD Project Summary said that the senior loans totaling up to 244 million euros in local currency equivalent (tenge) may be allocated to the state-owned companies Intergas Central Asia (ICA) and KazTransGas Aimak (KTGA).

These two companies are EBRD’s long-standing clients and fully owned subsidiaries of KazTransGas. The report also said that through the project, the EBRD is looking to help the subsidiaries of KazTransGas optimize the balance sheet, continue energy efficiency improvements and develop a Corporate Governance Action Plan. The information said that the project’s approval is planned for May 28, 2020.

KazTransGas is the largest gas supply company in Kazakhstan, representing the interests of the state on domestic gas market and worldwide. The only shareholder of the company is KazMunayGas National Company.

KazTransGas operates natural gas transport via main gas pipelines, sales natural gas on domestic and foreign markets, and develops, finances, constructs and maintains pipelines and gas storages. The company operates over 17,000 km of transmission gas pipelines, 40 000 km of distribution lines, 31 compressor stations and three underground gas storage facilities.