...

EBRD and KazTransGas may implement reforms in Kazakhstan’s energy sector

Oil&Gas Materials 19 April 2018 10:15 (UTC +04:00)

Baku, Azerbaijan, April 19

By Ali Mustafayev – Trend:

Chairman of the Board of Directors of KazTransGas JSC Kairat Sharipbayev and President of the European Bank for Reconstruction and Development Suma Chakrabarti signed a memorandum of understanding on cooperation in the gas sector, the press service of KazTransGaz said.

"The Memorandum of Understanding between the EBRD and KazTransGas JSC is aimed at improving the functioning of the gas market, as well as broader development of the energy sector in accordance with best international practices through necessary reforms and price transparency, which will lead to increased competition and security of gas supply," said the message.

"The planned investments will contribute to improving the sector's competitiveness, strengthening national energy security of Kazakhstan, eliminating regional imbalances, improving the overall efficiency of resource use and reducing greenhouse gas emissions. Such cooperation corresponds to the approach of the EBRD in the sphere of the green economy, as well as the concept of the "green economy" of the government of Kazakhstan," the message said.

The EBRD and KazTransGas JSC also consider the possibility of carrying out reforms in the gas and energy sectors of Kazakhstan and investing in projects for sustainable energy.

The reforms include supplying gas to new regions, modernization of existing assets, the development of new markets, such as the processing of associated gas and the development of the market of gas-powered fuel.

"KazTransGas" JSC is the national operator of Kazakhstan in the field of gas and gas supply. The group of companies of "KazTransGas" JSC includes mining, transporting and selling gas and products of its processing enterprises and organizations.

Tags:
Latest

Latest