KazMunayGas denies merger of KTO and KTG
“Due to a plenty of requests and questions received from mass media and shareholders of JSC KazTransOil regarding possible merger of KMG’s daughter companies – JSC KazTransOil and JSC KazTranGas - KMG officially states that such type of merger is economically inadvisable,” an official statement reads.
JSC KazMunayGas is Kazakhstan’s national operator for exploration, production, processing and transportation of hydrocarbons. 90% of KMG’s shares belong to JSC Samruk-Kazyna Sovereign Wealth Fund and 10% belong to the National Bank of Kazakhstan.
JSC KazTransOil is KMG’s daughter company which owns the largest network of main oil pipelines and waterlines in the Republic of Kazakhstan, total length of which amounts to 5 502,997 km of oil pipelines (with account of 71,7 km of “Kenkiyak - Orsk” oil pipeline, which passes through the territory of the Russian Federation and which is on the balance sheet of Representation of KazTransOil in Samara) and 2 148,1 km of water pipeline. Oil transportation via the main oil pipelines is ensured by 37 oil pumping stations, 64 oil preheaters, tank farm for oil storage of oil with overall volume 1 259 000 cub. m.
JSC KazTransGas is the national operator of Kazakhstan in oil and gas supply sector. The company unites gas extracting, transporting, selling and processing enterprises and organizations.