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KazMunaiGas fined 500 million tenge in Pavlodar

19 march 2012, 18:02
KazMunaiGas logo
KazMunaiGas logo
KazMunaiGas was fined 470 million tenge ($3.2 million) in Pavlodar, Tengrinews.kz reports citing deputy head of the inter-regional department of competition protection in East-Kazakhstan and Pavlodar oblasts Timur Amirkhanov.

"Pavlodar court ruled out to bring KazMunaiGas to administrative responsibility and penalize the company with a 470 million tenge fine. The company violated anti-monopoly law and entered into an anti-competition agreement," Amirkhanov said.

The administrative case against KazMunaiGas was initiated by Competition Protection Agency last July. The company was suspected of violation of competition rules at the local market. According to the Agency, Refinery Company RT, owned by KMG, signed an agreement with Helios on selling liquified hydrocarbon gas. It was detected that the decision on the deal with Helios was made by KazMunaiGas.

"A check into the operations of Refinery Company RT revealed that there was an agreement stating that the company undertook to sell all liquified gas produced by Pavlodar Oil and Chemistry Plant to Helios only. 100-percent sale of gas to one entity is a direct violation of the anti-monopoly legislation, competition rules and consumers' rights. As a result Helios received illegal advantage in its business activities buying the gas from Refinery Company RT as the only buyer," Amirkhanov said.

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