Gazprom to buy Kyrgyzstan's national gas operator for $1

摘要

Russia's Prime Minister Dmitry Medvedev has approved a draft agreement between Moscow and Bishkek, under which Russian state gas company Gazprom will acquire 100% of Kyrgyzstan's national gas operator, Kyrgyzgas, for $1, according to the website of the Russian government. Gazprom is to receive full control over Kyrgyzstan's gas pipeline system, pumping stations, underground storage facilities as well as gas wells currently owned by Kyrgyzgas. The agreement will last 25 years and may be extended for further five-year periods, the draft said. On termination of the agreement, the Russian side is to sell 100% of property held by Kyrgyzgas to the Kyrgyz side at a market price, to be determined by an independent appraisal body. According to Kyrgyz media, Kyrgyzgas had a total debt of $25.6 million at end-2012.