QazaqGaz subsidiary to borrow nearly $300 million from Eurasian Development Bank

Intergas Central Asia, a subsidiary of QazaqGaz, will borrow 26 billion rubles (nearly $300 million) from the Eurasian Development Bank, according to a statement published on the Kazakhstan Stock Exchange (KASE) website.

The announcement specifies that the loan will be repaid over 10 years with an interest rate of 9%.

No details were provided on how the funds will be used. Kursiv.media contacted the parent company for comment but received no response prior to publication.

In late February 2025, media reports indicated that in 2024, Intergas Central Asia increased its net profit nearly fivefold to almost $100 million.

The company operates Kazakhstan’s gas transportation system. Its gross profit rose 1.8 times to approximately $200 million, while revenue increased by 25% to more than $550 million. Additionally, last year, Intergas Central Asia reported a foreign exchange gain of 467.8 million tenge (about $997,000), compared to a loss of 864.2 million tenge ($1.8 million) in 2023.

QazaqGaz is Kazakhstan’s national gas company, engaged in the exploration, production, sale and supply of gas. Its sole owner is Samruk-Kazyna, a sovereign wealth fund and a key player in the country’s economy.