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GAZPROM

August 24, 2004

Results of meeting on cooperation between Gazprom and Republic of Kazakhstan in gas processing

Alexander Ryazanov and Yuri Komarov, Deputy Chairmen of Gazprom’s Management Committee conducted a meeting dedicated to cooperation between Gazprom and the Republic of Kazakhstan in processing of gas extracted from Kazakhstan’s fields.

The meeting reviewed the progress in the talks related to the conclusion of a long-term agreement between Gazprom, Orenburggazprom and the Karachaganak Integrated Organization (KIO). The agreement stipulates gas deliveries from the Karachaganak field (Kazakhstan) to the Orenburg Gas Plant (OGP) being built up from 7 to 8.5 bcm/y, starting 2005.

The meeting resolved to produce until 15 September a final version of the draft agreement on gas deliveries from the Karachaganak field to the OGP, containing a gas pricing formula over the long-term.

The meeting participants also examined the issue of the OGP readyness to receive and process additional gas volumes. As it was pointed out, the OGP would complete until the year-end all the works ensuring that the aforementioned task was technically feasible.

At the same time, the parties addressed the matter of setting up a Russian-Kazakh joint venture targeted at modernizing the OGP to build up processing of gas produced from the Karachaganak field to 15 bcm/y. Gazprom’s core business units received instructions to submit a feasibility study for the OGP modernization until 15 September, identify potential buyers of the OGP additional output and its forecasted price as well as to coordinate with the Kazakh side the composition of the joint venture.

The meeting particularly underscored that the accident that took place at the Orenburg Helium Plant on 21 August, provoking a suspension of the OGP production wouldn’t affect large-scale plans on cooperation between the Russian and Kazakh parties in gas processing. The OGP will restart its operations today.

Reference:

Gas withdrawn from the Karachaganak field is being processed at the Orenburg Gas Plant (OGP) within a contract concluded in October 2002 between Gazprom, Orenburggazprom and the Karachaganak Integrated Organization. Starting October 2003, annual gas deliveries to the OGP have accounted for 7 bcm. In the meantime, Gazprom and the Republic of Kazakhstan are negotiating a 15-20 year cooperation agreement in the gas industry.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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