More of Kazakhstan's Gas to Be Sold to China

The Samruk-Kazyna holding has approved the deal that its company QazaqGaz plans to conclude with China's PetroChina International Alashankou Company Limited. This is a contract for the supply of natural gas worth over 1.9 trillion tenge, Orda.kz reports.

The document on KASE specifies that the deal involves signing an additional agreement to the gas purchase and sale agreement that the national company concluded with the Chinese corporation in October 2023.

The document does not mention a specific amount but does state that it is 69.54% of the total value of QazaqGaz assets. Thus, the cost can be estimated at one trillion 922 billion tenge.

In early October, reports surfaced that Kazakhstan was negotiating with China to increase gas supplies.

QazaqGaz plans to build an additional gas pipeline to China. Kazakhstan needs to increase supplies to China to cover losses on the domestic market with the proceeds received.

Original Author: Nikita Drobny