December 21, 2012
Gazprom To Take Over Kyrgyz State Gas Firm
Kyrgyzgaz, the state-controlled natural-gas company in Kyrgyzstan, has announced that it will be sold in its entirety to Russia's Gazprom.
Kyrgyzgaz General Director Turgunbek Kulmurzaev told journalists in Bishkek on December 21 that the sale will be completed by April 1.
The Kyrgyz government currently owns 75 percent of the company, with private investors holding the rest.
After the purchase is completed, Gazprom is expected to invest some $650 million to develop Kyrgyzgaz.
Kulmurzaev said he also expected that the price of gas for consumers will fall as Russian gas replaces supplies currently purchased from Uzbekistan and Kazakhstan.
Kyrgyzstan has been plagued by unstable energy supplies for many years.
Over the past week, several thousand homes have been without gas or electricity.
Based on reporting by AP and Interfax
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