The FBRK editorial team continues its report on the total remuneration packages of the executive bodies of companies that have a significant impact on the economy of Kazakhstan.
Today's focus is on JSC "NC "QazaqGaz", formerly known as "KazTransGas". The national company operates the largest network of main gas pipelines in Kazakhstan. The total length of the network is 20.6 thousand km.
In 2023, QazaqGaz received 325.6 billion tenge in net profit, which is 15.4% less compared to 386.5 billion tenge in 2022.
In 2020, the company's executive body consisted of 11 people headed by Kairat Sharipbaev. The total remuneration amounted to approximately 529 million tenge.
In 2021, Mr. Sharipbaev retained his position as Chairman of the Management Board, which then comprised 8 people. By the end of the year, the total remuneration of the board members amounted to over 377 million tenge.
From 2016 to 2019, Kairat Sharipbaev served as Vice President for gas transportation and marketing at JSC "NC "KazMunayGas", and later held the position of Deputy Chairman of the Management Board.
Incidentally, from 2015 to 2017, the advisor to the Chairman of the Management Board of "KazTransGas" was none other than Sanzhar Bokaev.
It is worth recalling that during the restructuring of KazMunayGas in 2021, KazTransGas was spun off from the national company.
More details on the total remuneration of the members of the Management Board of "KazMunayGas" can be read here.
It is worth noting that Kairat Sharipbaev is known not only for his work in oil and gas companies. According to some sources, Mr. Sharipbaev is the husband of Dariga Nazarbayeva – the eldest daughter of the former president.
Furthermore, Mr. Sharipbaev once had several private companies registered in his name, specialising in building rental, wholesale trade, and the sale and installation of gas equipment.
This list included a small company called Innovation Invest, which Asset Nurdos took over immediately after Kairat Sharipbaev's appointment as General Director of KazTransGas in 2014.
Asset Nurdos also ran the now-liquidated company Capital Trade Line, whose sole founder was Qazaq Business Group.
In turn, one of the founders of Qazaq Business Group was the company Astana Group KZ, whose first director and founder was initially Mr. Sharipbaev, and later Asset Nurdos.
Over time, the founder became an offshore company, Tian-Shan Holding Pte.Ltd, registered in Singapore.
In January 2021, Tian-Shan Holding Pte.Ltd was transferred to Korlan Sharipbayeva – the daughter of Kairat Sharipbaev.
In the early 2000s, a hotel of the same name was planned for construction next to the capital's oceanarium, "Duman". According to Radio Azattyq, "KazMunayGas" had to complete the construction at the behest of the ex-president.
In 2007, the national company completed the construction of the 18-storey hotel building with an area of 44 thousand sq.m.
In 2014, the Duman hotel was sold to the private company "Armania"., incidentally, below its appraised value.
The head of Armania LLP at the time was the familiar Asset Nurdos. According to the kompra.kz service, the founders of Armania were two companies.
One of them is Stroy System Engineering, which belongs to the same offshore company, Tian-Shan Holding Pte.Ltd.
The second founder is the company DLS Group Kazakhstan, owned by DLS Group. In turn, the sole founder of DLS Group until 2015 was Dariga Nazarbayeva.
In a word, as is often said today, Kairat Sharipbaev is a prominent representative of "old Kazakhstan".
It is worth recalling that in July 2022, GPC Investment LLP, also owned by Mr. Sharipbaev, was transferred as payment for shares of JSC "NWF "Samruk-Kazyna". The partnership was involved in the construction of a gas processing plant at the large Kashagan hydrocarbon field.
In 2022, Sanzhar Zharkeshov took over as Chairman of the Management Board of QazaqGaz. At that time, the 15 members of the management board received a total of approximately 158 million tenge.
In 2023, Mr. Zharkeshov retained his position as Chairman. The executive body, consisting of 9 people, received total remuneration of 506 million tenge.
It is worth noting that in 2019-2020, Sanzhar Zharkeshov held the position of Vice Minister of Ecology, and later worked as head of the exploration and field development unit at JSC "Naftogaz of Ukraine".
It is worth recalling that in April 2022, ex-Senator Yerik Sultanov stated that embezzlement at QazaqGaz over the previous seven years amounted to 587 billion tenge.
In June of the same year, Mr. Zharkeshov reported violations in the national company totalling over 937 billion tenge.
Furthermore, it was recently announced that the investment holding company Samruk-Kazyna intends to buy a gas distribution company, formerly owned by Kairat Boranbaev, from the Ministry of Finance.
In March of last year, Mr. Boranbaev, his business partner Roman Nakhanov, and the former Deputy Chairman of the Management Board of QazaqGaz, Taiyr Zhanuzak, were sentenced to 8 years in prison for embezzlement of funds on an especially large scale in the quasi-public sector.