Baku, Azerbaijan, Feb. 28
By Elena Kosolapova - Trend:
Russian Gazprom company will invest 100 billion rubles ($1.73 billion) in the development of the gas transportation system in Kyrgyzstan, Russian President Vladimir Putin said at the meeting with his Kyrgyz counterpart Almazbek Atambayev in Bishkek Feb. 28, TASS reported.
Putin also said that in 2016 Russia supplied 1 million tons of duty-free fuel to Kyrgyzstan.
Gazprom acquired 100-percent interest in Kyrgyzgas state company in 2014. Following the acquisition, Gazprom as well as its subsidiaries, have the exclusive right to import natural gas to the country and will be protected against expropriation and nationalization in Kyrgyzstan.
Meanwhile Russian company agreed to pay off KyrgyzGas's debts and invest in modernization and reconstruction of KyrgyzGas's gas infrastructure. KyrgyzGas was renamed to Gazprom Kyrgyzstan.
Since acquisition Gazprom has paif off all of KyrgyzGas's foreign debts exceeding $54 million.
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