Universal News Wires
Friday, December 14, 2012
Kazakhstan’s state gas transport firm said Thursday it has secured a $1.8 billion Chinese loan to finance a domestic pipeline project that may also be linked up to a trans-regional route to energy-hungry China.
KazTransGas (KTG) said it inked the deal with China Development Bank on Tuesday.
The credit will be spent on constructing a pipeline from massive petroleum fields in the west of Kazakhstan to consumers in south Kazakhstan.
The pipeline will source natural gas from Beineu in Mangystau province and pump it more than 900 miles to facilities at the city of Shymkent in South Kazakhstan province.
The first stage of the route, connecting Beinau with Bozoy, will be built by October next year, the state-operated enterprise said.
The China National Petroleum Corporation (CNPC) will construct the Beineu-Shymkent gas pipeline in a 50-50 joint project with KTG, a subsidiary of state oil and gas firm KazMunaiGas (KMG).
The pipeline is the second stage of an inter-regional gas route from Kazakhstan to China and a critical component in joining the country’s major pipelines into a single network.
Friday, December 14, 2012
Kazakhstan’s state gas transport firm said Thursday it has secured a $1.8 billion Chinese loan to finance a domestic pipeline project that may also be linked up to a trans-regional route to energy-hungry China.
KazTransGas (KTG) said it inked the deal with China Development Bank on Tuesday.
The credit will be spent on constructing a pipeline from massive petroleum fields in the west of Kazakhstan to consumers in south Kazakhstan.
The pipeline will source natural gas from Beineu in Mangystau province and pump it more than 900 miles to facilities at the city of Shymkent in South Kazakhstan province.
The first stage of the route, connecting Beinau with Bozoy, will be built by October next year, the state-operated enterprise said.
The China National Petroleum Corporation (CNPC) will construct the Beineu-Shymkent gas pipeline in a 50-50 joint project with KTG, a subsidiary of state oil and gas firm KazMunaiGas (KMG).
The pipeline is the second stage of an inter-regional gas route from Kazakhstan to China and a critical component in joining the country’s major pipelines into a single network.
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