Gazprom Buys Kyrgyzgaz For $1 Plus Debt

Russia’s top natural gas producer Gazprom has signed a deal to buy 100 percent of shares of Kyrgyzgaz for $1 and assumed the responsibility to repay $40 million of debt owed by the Kyrgyz gas producer, Itar-Tass reported. Gazprom also pledged to invest no less than 20 billion rubles ($560 million) in the next 5 years in the Central Asian republic’s 700-kilometer gas distribution grid upgrades.

Topics:  gazprom   kyrgyzgaz   itar-tass   central asian   kyrgyz   debt   gas   million   producer   
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