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KazMunayGas Signs Various Agreements with Kazakhstan Manufacturers

28.02.2020

On 28 February 2020, JSC NC “KazMunayGas” (hereinafter KMG) signed a number of agreements at the Business Forum dedicated to support of domestic manufacturers.

Today, KMG is active in the sphere of import substitution within the framework of the Program for Support of New Venture Creation by Signing Off-take Agreements. The mechanism for off-take agreements provides for implementation of import substitution projects with a condition of future purchase and supply of commodities to be produced as a result of such implementation.

Within the framework of the Program, CEOs of KMG’s subsidiaries - KazTransOil and Atyrau Refinery - signed agreements with Kazakhstan ventures.

KazTransOil entered into a Memorandum on Cooperation with KARLSKRONA LC AB of Kazakhstan in respect of possible supply of pump units for trunk pipelines. The trunk line pumps will undergo pilot tests, and, subject to a positive opinion of the expert commission, KazTransOil will sign with KARLSKRONA LC AB an off-take agreement for purchase of the equipment.

Atyrau Refinery signed an off-take agreement with Zhaik Petroleum for long-term supply of more than 70,000 tons of methanol during 2022-2024 with a total value of 11.2 billion tenge.

Participation in programs for support of domestic manufacturers and increase of the local content in purchases is regarded by KazMunayGas as a priority task. In 2019, the purchases of goods, works and services by the KMG group of companies totalled 2 trillion 50 billion tenge, wherein the local content equalled 81% or 1 trillion 658 billion tenge.

JSC NC KazMunayGas

On 28 February 2020, JSC NC “KazMunayGas” (hereinafter KMG) signed a number of agreements at the Business Forum dedicated to support of domestic manufacturers.

Today, KMG is active in the sphere of import substitution within the framework of the Program for Support of New Venture Creation by Signing Off-take Agreements. The mechanism for off-take agreements provides for implementation of import substitution projects with a condition of future purchase and supply of commodities to be produced as a result of such implementation.

Within the framework of the Program, CEOs of KMG’s subsidiaries - KazTransOil and Atyrau Refinery - signed agreements with Kazakhstan ventures.

KazTransOil entered into a Memorandum on Cooperation with KARLSKRONA LC AB of Kazakhstan in respect of possible supply of pump units for trunk pipelines. The trunk line pumps will undergo pilot tests, and, subject to a positive opinion of the expert commission, KazTransOil will sign with KARLSKRONA LC AB an off-take agreement for purchase of the equipment.

Atyrau Refinery signed an off-take agreement with Zhaik Petroleum for long-term supply of more than 70,000 tons of methanol during 2022-2024 with a total value of 11.2 billion tenge.

Participation in programs for support of domestic manufacturers and increase of the local content in purchases is regarded by KazMunayGas as a priority task. In 2019, the purchases of goods, works and services by the KMG group of companies totalled 2 trillion 50 billion tenge, wherein the local content equalled 81% or 1 trillion 658 billion tenge.
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