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Gazprom to invest $1.7bn in Kyrgyzstan’s gas supply system

Staff Writer |
Gazprom will invest 100 billion rubles ($1.7 billion) in the development of gas supply system of Kyrgyzstan, Russia’s President Vladimir Putin said after talks with Kyrgyz President Almazbek Atambayev.

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"The total volume of investments in the republican gas supply network will be 100 billion rubles," Putin said.

He added the percentage of the country’s territory covered by the gas supply system will increase from current 22% to 60%.

Putin noted that Gazprom is carrying out a large-scale program on development of the country’s gas supply system, which that program was designed until 2030.

The Russian leader noted that thanks to the possibility of duty-free imports of Russian oil products in the republic more than 1 million tonnes of fuel were delivered to Kyrgyzstan in 2016.

Putin also pointed out that money transfers by Kyrgyz citizens working in Russia make a significant contribution to the economic development of the republic.

Since Kyrgyzstan joined the Eurasian Economic Union (EAEU), the volume of such transfers grew by 17.5% and in January-September of 2016 totaled $1.3 billion, which is equivalent to nearly a third of the country's budget.

"But that's just what we know judging by bank and postal money orders, in fact, it (the volume of money transfers) is more of course," Putin said.

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