Yesterday Kyrgyzstan parliament approved the agreement between the Kyrgyzstan and Russian governments to transfer ownership of the national gas operator Kyrgyzgas to Russian Gasprom for one dollar in the first reading.
The document was signed in July 2013 in Moscow. According to the agreement, all assets of Kyrgyzgas, including gas pipelines, gas distribution stations and underground storages, are transferred to Gasprom. Kyrgyzstan guarantees an exceptional right of Russian company to import natural gas into the country and protection of investments of Gasprom and its daughter companies from expropriation and nationalization.
Russia has committed itself to invest at least 20 billion rubles ($608 million at the current rate) into upgrade of Kyrgyzgas gas infrastructure within five years and will take upon itself all debt obligations of the company. By July 1, 2012 the account payable of Kyrgyzgas totaled about $40 million.
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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