Chairman of the Board of JSC NC QazaqGaz Sanzhar Zharkeshov and General Director of Tengizchevroil (TCO) Kevin Lyon, have signed a long-term gas sales and purchase agreement.
The signed document aims to ensure stable supplies of sales gas to the domestic market of Kazakhstan and strengthen cooperation between the national company and one of the key players in the country’s oil and gas industry.
“Economic development has led to a significant increase in gas consumption in the domestic market. For QazaqGaz, stable gas supply to the population and domestic enterprises remains a priority. The signing of the purchase and sale agreement with our long-time partner Tengizchevroil was made possible with the support of the Ministry of Energy and the Samruk-Kazyna Fund. This agreement will expand Kazakhstan’s gas resource base and ensures reliable supplies in the long term,” noted Chairman of the Board of JSC NC QazaqGaz Sanzhar Zharkeshov.
TCO remains one of the key suppliers of sales gas to the domestic market and continues to partner with Kazakhstan to explore potential opportunities in this strategic focus area for the country.
“The signing of this agreement demonstrates TCO’s commitment to helping the Republic of Kazakhstan meet its growing domestic demand for gas. I would like to express my appreciation to QazaqGaz for the significant work carried out with TCO to reach this important agreement for the country” – said General Director of TCO, Kevin Lyon.
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QazaqGaz NC JSC is a portfolio company of "Sovereign Wealth Fund "Samruk-Kazyna" JSC. The company manages the centralized infrastructure for transportation of sales gas through main gas pipelines and gas distribution networks, provides international transit, and sells gas in domestic and foreign markets, while also developing, financing, constructing and operating pipelines and gas storage facilities.
Tengizchevroil LLP (TCO) is a Kazakhstani partnership that develops, produces, and markets crude oil, LPG, dry gas, and sulfur. TCO implements modern technologies and conducts its operations in accordance with world-class safety and environmental standards. In April 1993, TCO was formed between the Republic of Kazakhstan and Chevron Corporation. Partners are Chevron, 50 percent; KazMunaiGas NC JSC, 20 percent; ExxonMobil Kazakhstan Ventures Inc., 25 percent and LUKOIL, 5 percent.
