KazMunayGas denies plan to merge KazTransOil with KazTransGas

By bne IntelliNews January 20, 2016

National oil and gas company KazMunayGas denied information about the merger of KazTransOil and KazTransGas in a press release published on January 19. The company said that this kind of merger would be economically inadvisable.

The company’s statement is contrary to the plan of sovereign wealth fund Samruk-Kazyna. In November 2015, the fund’s Chairman Umirzhak Shukeyev said that the merger of the two companies was part of a wider privatisation programme. Therefore, it remains unclear whether there was a change in the planned privatisation programme or KazMunayGas is opposing the government’s policy regarding the privatisation of its assets.

KazMunayGas revealed that it decided to make a statement following a number of inquiries from the media. The company did not provide any other facts or details regarding this decision.

KazMunayGas is a  national operator for exploration, production, processing and transportation of hydrocarbons. It is fully owned by the state: 90% of its shares belong Samruk-Kazyna while the National Bank of Kazakhstan owns the remaining 10%.

KazTransOil is KMG's subsidiary which owns the largest network of main oil pipelines and waterlines in the country. At the same time, KazTransGas is a national operator for transporting and supplying gas. The company unites gas extracting, transporting, selling and processing enterprises and organisations. 

Related Articles

Poland eyeing second LNG terminal

Gaz-System has selected a contractor to carry out a feasibility study on the construction of a second Polish LNG terminal, the state-owned gas grid operator said on March 27. Poland has recently ... more

Latvia heads off Russian gas mischief with legislation on strategic companies

The Latvian parliament passed amendments to national security and commercial laws on March 23, handing the state the power to block the sale of companies considered strategic. The legislation will ... more

Enea buys French utility out of Poland

Enea has acquired a 100% stake in Engie Energia Polska - the Polish business of French power company Engie - for PLN1.26bn (€290mn), the state controlled Polish utility said on March 14. The ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss