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News 2014

KTG-Tbilisi

On November 12, the Governments of Kazakhstan and Georgia agreed to return the control over KazTransGas-Tbilisi to KazTransGas company. This happened during the official visit of the Prime Minister of Georgia I.Garibashvili to Kazakhstan.

In 2009 by decision of Kutaisi court, taken after the legal proceedings under the claim of Georgian Oil and Gas Corporation (GOGC), a Georgian manager was introduced for KazTransGas-Tbilisi.  Previously, KazTransGas-Tbilisi had an indebtedness for GOGC in amount of 80 million lari (about 48 million USD). 

An amicable agreement between KazTransGas and the Bank of Georgia was signed during the period of work of the Kazakhstani- Georgian Intergovernmental Commission on bilateral trade and economic cooperation, whereby, the debt of KazTransGas-Tbilisi in amount of 10 million USD (represented by the fines and percentages) was written-off. The parties also agreed the KazTransGas-Tbilisi debt re-structuring as of 2008-2009, owed to the Georgian Ministry of Finance in amount of 34 million USD for gas supply, ensured by GOGC.