Gazprom, KMG extend Karachaganak supply contract to 2038

OAO Gazprom and JSC KazMunayGas (KMG) reported a contract extension to 2038 for supply from Karachaganak gas-condensate field in Kazakhstan (OGJ Online, June 28, 2012).

The contract is for nearly 9 billion cu m/year to the Orenburg gas processing plant in Russia, a distance of 130 km. The companies said the deal also provides the ability to secure long-term gas supplies to Kazakhstan, including through swaps.

KMG said the contract extension is an important step in Karachaganak development and means an additional supply of 120-135 billion cu m to Orenburg by the end of the contract period.

The agreement was signed in Astana by KazRosGas, a joint venture established by Gazprom and KMG National Co., and the Karachaganak Petroleum Operating (KPO) consortium. KPO includes British Gas 29.25%, Eni SPA 29.25%, Chevron Corp. 18%, OAO Lukoil 13.5%, and KMG National Co. 10%.

KazRosGas and KPO signed a contract for Karachaganak gas in 2007.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...