QazaqGaz, a subsidiary of Samruk-Kazyna, is preparing to enter into a $5.6 billion agreement with PetroChina International Alashankou Company Limited.
«QazaqGaz shall reach a deal that will lead to the conveyance of property worth 50% or more of the company’s book value by signing an additional agreement, No.1, to the purchase and sale agreement between QazaqGaz and PetroChina International Alashankou Company Limited dated Oct. 17, 2023,» the company stated, following a general meeting of its shareholders held on Nov. 7.
Notably, the sole shareholder of the gas company is the state-owned holding Samruk-Kazyna.
As of July 1, QazaqGaz reported assets valued at $7.7 billion. This means that the company aims to sell gas worth $5.6 billion, based on the current exchange rate of the National Bank of Kazakhstan (1 USD = 494.95 tenge).
The initial announcement of the export deal between QazaqGaz and PetroChina International, covering the years 2023 to 2026, was made in October 2023. At that time, however, the gas operator did not specify the deal’s value.
