Kazakhstan Chamber of Commerce in the USA

KazCham



EBRD to finance gas projects in Kazakhstan 0

Posted on June 06, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

The European Bank for Reconstruction and Development (EBRD) will provide up to €294 million for two ground-breaking projects to increase the use of domestically produced natural gas and largely replace the use of coal in Kazakhstan.

The relevant agreement was signed by EBRD President Suma Chakrabarti and Chairman of the Board of the Kazakh KazTransGas gas transportation company, Kairat Sharipbayev.

The first project is the upcoming modernisation and refurbishment of the underground storage in Bozoi, in the bank’s first ever cooperation with KazTransGas.

The second project involves the expansion and modernisation of the natural gas distribution network in several regions of Kazakhstan. The upgrade will allow the company to connect new households and industrial customers to gas supplies, replacing the current carbon-intensive energy sources.

 



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