KazTransGas to Buy Gas From Kashagan Field

KazTransGas National Gas Shipping Company has inked a deal with Kashagan consortium to buy 2.5-3 billion cubic meters of gas a year to be produced at the giant Kashagan field.

According to Tengrinews 70-80% of the gas will go to meet the domestic demand, with the other 20-30% to be exported. Production is expected to commence in October.

According to government estimates, the field holds over 1 trillion cubic meters of natural gas and 38 billion barrels of oil.

The consortium developing the field comprises Eni, Shell, ExxonMobil, Total and KazMunaiGaz (all with a 16.81% stake) as well as ConocoPhillips (8.4%) and Japan's Inpex (7.56%).