October 7, 2008

Kazakh Energy Giant Plans to Sell Subsidiary in Georgia

Text of report by corporate-owned Russian news agency Interfax

Almaty, 7 October: The head of KazMunayGaz, Kairgeldy Kabyldin, has confirmed the Kazakh national oil and gas company's intention to sell KazTransGaz-Tbilisi if there are good offers.

"As in any business, this operation (of KazTransGaz-Tbilisi - Interfax-Kazakhstan) can be sold out. If there are good offers, then why not, everything depends on the offers," he said, speaking at a conference in Almaty today.

He also said that the national company was not planning to sell its other Georgian operation - the Batumi port and an oil terminal.

"We are not going to sell it to anybody," Kabyldin said.

The KazTransGaz-Tbilisi limited liability company was set up on 2 March this year and is a subsidiary of the KazTransGaz joint-stock company (a KazMunayGaz subsidiary) with a 100-per-cent stake in its authorized capital.

Currently, the KazTransGaz-Tbilisi limited liability company supplies the population and organizations in the Georgian capital with over 300m cu.m. of gas a year.

Originally published by Interfax news agency, Moscow, in Russian 0455 7 Oct 08.

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