KazTransGaz to return control over KazTranGas-Tbilisi

An agreement on return of control over KazTransGas-Tbilisi to Kazakh company KazTransGas has been reached, the Novosti-Kazakhstan reported.

In 2009, Georgian special manager was brought into KazTransGas-Tbilisi by the Kutaisi court decision on the initiative of Oil and Gas Corporation of Georgia. The reason for the decision was a credit debt in the amount of $80 million lari (about $48 million). Earlier a settlement agreement between KazTransGas and Bank of Georgia was signed during the regular work of the Kazakh-Georgian intergovernmental commission on bilateral trade and economic cooperation in Tbilisi, under which the KazTransGas-Tbilisi’s debt was written off in the amount of $10 million for penalties and interest.