Baku, Azerbaijan, Aug. 8
By Leman Zeynalova – Trend:
Kazakhstan intends to supply five billion cubic meters of gas to China by October 2018, chairman of the board of KazMunayGas national company Sauat Mynbayev said in an interview with ‘Kazakhstan Truth’ newspaper.
"Since October 2017, the company has begun to supply gas to China,” he said. “This project has already begun to generate revenues and ensure the repayment of debt obligations. According to the plan, five billion cubic meters of gas are to be supplied to China by October 2018."
Mynbayev added that gas exports to China not only provide KMG Group of Companies with great revenues, but also cover losses for gas supplies to the domestic market.
"At the current pace of development of big gas pipelines, we hope for the payback of the gas transportation system in 2023, rather than in 2030," he said.
KazMunayGas is Kazakhstan’s operator for exploration, production, processing and transportation of hydrocarbons, representing the country’s interests in the oil and gas industry.
KMG Group of Companies, founded in 2002, includes more than 190 organizations.
Kazakhstan with proven oil and gas condensate reserves ranks 12th in the world, 22nd – with natural gas reserves and 17th – in oil and gas production.
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