QazaqGaz, TCO ink gas sale and purchase agreement

“Economic development has led to a significant increase in petroleum gas consumption in the domestic market. For QazaqGaz, stable gas supply to the population and domestic enterprises remains a priority. The signing of the purchase and sale agreement with our long-time partner Tengizchevroil was made possible with the support of the Ministry of Energy and the Samruk-Kazyna Fund. This agreement will expand Kazakhstan’s petroleum gas resource base and ensures reliable supplies in the long term," noted Sanzhar Zharkeshov, Chairman of the Board of QazaqGaz NC JSC.

TCO remains one of the key suppliers of sales gas to the domestic market and continues to partner with Kazakhstan to explore potential opportunities in this strategic focus area for the country.

“The signing of this agreement demonstrates TCO’s commitment to helping the Republic of Kazakhstan meet its growing domestic demand for gas. I would like to express my appreciation to Qazaq Gaz for the significant work carried out with TCO to reach this important agreement for the country," said General Director of TCO, Kevin Lyon.

In 2024 TCO produced over 1.2 million tonnes of LPG.

It is noteworthy, that at the end of 2024, TCO and KMG PetroChem LLP also signed a dry gas purchase and sales agreement, whereby TCO will supply up to 9 billion cubic meters of dry gas per year to a gas processing plant in Atyrau Oblast. (Tengizchevroil is planning to provide up to 9 billion cubic meters of dry gas to gas processing plant in Atyrau Oblast).

Tengizchevroil LLP (TCO) is a Kazakhstani partnership that develops, produces, and markets crude oil, LPG, dry gas, and sulfur. TCO implements modern technologies and conducts its operations in accordance with world-class safety and environmental standards. In April 1993, TCO was formed between the Republic of Kazakhstan and Chevron Corporation. Partners are Chevron, 50 percent; KazMunaiGas NC JSC, 20 percent; ExxonMobil Kazakhstan Ventures Inc., 25 percent and LUKOIL, 5 percent.

QazaqGaz NC JSC is a portfolio company of "Sovereign Wealth Fund "Samruk-Kazyna" JSC. The company manages the centralized infrastructure for transportation of sales gas through main gas pipelines and gas distribution networks, provides international transit, and sells gas in domestic and foreign markets, while also developing, financing, constructing and operating pipelines and gas storage facilities.

Earlier, it was reported that TCO  reached a significant milestone at its Future Growth Project, by safely initiating production of crude oil at its new Third-Generation Plant at the Tengiz oilfield.