Final agreement reached between Tractebel and Kaytransgaz

After nearly two months of negotiations between Belgian company Tractebel and gas transport company Kaztransgaz, a final agreement on handing over the rights to the republic's gas transport systems has been reached. The rights have been under the management of the Belgian company since 1996. The purchase of Tractebel's business projects in the Republic of Kazakhstan will cost Kaztransgaz $ 100 mm.
The payment will be guaranteed by a group of international banks and will be made over three years. The management's transfer from the Belgian Tractebel company to Kaztransgaz will take two months, and a joint management body will be set up for this period.