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Bashkir Generation Company and Bashneft sign heat and gas supply agreement

Bashkir Generation Company and Bashneft sign heat and gas supply agreement
12 January 2015

Bashkir Generation Company LLC, a subsidiary of Inter RAO GROUP, and OAO ANK Bashneft signed an agreement for the supply of heat to oil refineries and petrochemical facilities, and the supply of associated gas to Bashkir power stations in 2015 and 2016, with a possible extension until 2022.

The take-or-pay agreement covers the supply of guaranteed amounts of heat (not less than 2.5 million Gcal per year) and gas (not less than 42.5 cubic meters per year) that the parties will review on an annual basis.

“The agreement with one of the largest heat consumers in Bashkortostan will help Bashkir Generation Company to secure its heat production volumes for several years ahead, facilitating the delivery of our 2020 development strategy,” said Ilnar MIRSIYAPOV, Member of the Management Board and Head of Strategy and Investments Unit, JSC Inter RAO. “In addition to that, Bashkir power generation facilities will have access to favorably priced processed associated gas in the amounts they need, in line with the fuel strategy of Inter RAO Group.”

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BGC LLC is a major regional energy company in Russia and a fully owned subsidiary of JSC Inter RAO coordinating the operation of Bashkir Heat Distribution Networks LLC (BashRTS LLC) and several subsidiaries. BGC LLC has 4,156 MW and 9,031 Gcal/h of installed power generation and heat production capacity. With an authorized capital stock of 24 billion rubles, BGC LLC is a fully owned subsidiary of JSC Inter RAO. www.bgkrb.ru

Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business. The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and the leading Russian energy company by energy efficiency. Inter RAO Group owns and operates over 35 GW of installed power generation capacity. www.interrao.ru

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