Azernews.Az

By Aynur Jafarova

Russian gas giant Gazprom will begin a gas exploration in Kyrgyzstan soon, local media reported on September 9 quoting the Kyrgyz Energy and Industry Ministry.

Kyrgyzstan's Energy and Industry Minister Osmonbek Artikbayev met with Deputy Chairman of the Gazprom Management Committee Vitaly Markelov and other representatives of the Russian company on September 8.

The company's managers said at the meeting that the relevant agreement on gas exploration will be signed by the end of September.

They also noted concrete goals have been set for the next five years. They emphasized the importance of expanding the gas exploration territory in Kyrgyzstan.

Also, Kyrgyz President Almazbek Atambayev received Chairman of the Board of Gazprom Alexey Miller. During the meeting, the sides discussed Gazprom's further activity in Kyrgyzstan aimed at ensuring the country's energy security.

Miller spoke in details about Gazprom's plans concerning development of Kyrgyzstan's energy sector.

Gazprom is the largest producer of natural gas in the world and the major Russian company. Its major business lines are geological exploration, production, transportation, storage, processing and marketing of hydrocarbons, as well as generation and marketing of heat and electric power. The Russian government has a controlling stake in the company.

In 2013, Gazprom acquired all gas infrastructures in Kyrgyzstan. Gazprom as well as its subsidiaries have the exclusive right to import natural gas to the country and are protected against expropriation and nationalization in Kyrgyzstan.

Meanwhile, Gazprom has to pay off Kyrgyzgas's $40 million debt. It also needs to invest $612.8 million in modernization and reconstruction of Kyrgyzgas's gas infrastructure within five years.