Gazprom plans to prolong gas purchase-and-sale agreement from Karachaganak deposit until 2038

Gazprom plans to prolong until 2038 the gas purchase-and-sale contract from the Karachaganak gas condensate deposit. The deputy chairman of Gazprom, A. Medvedev, and the Minister of Oil and Gas of Kazakhstan, U. Karabalin, discussed at the meeting.

The parties also discussed the perspectives of joint development of the Imashevsky gas condensate deposit and the possibility of the development of gas transport systems of Russia and Kazakhstan.

From 2002 Gazprom and OC KazMunaiGas have been successfully cooperating in the framework of the JV KazRosGas founded on the parity basis for the gas purchase from the Karachaganak deposit, its processing at the Orenburg gas processing plant and sale to the consumers in Kazakhstan and Russia.

The Transborder Imashevsky gas condensate deposit is located 60 km to the North-East of Astrakhan on the territory of Russia and 250 km to the south-west of Atyrau in the Kurmangazinsky region of Kazakhstan. The explored gas reserves of the Imashevsky deposit make up more than 100 bln cubic m.