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Project Description
Provision of a Kazakh tenge denominated loan of up to € 300 million equivalent (KZT 130 billion) to Beineu-Shymkent Gas Pipeline LLP (the "Borrower"), the owner and operator of the Beineu-Shymkent gas pipeline. The loan will support (i) the modernisation and expansion of the existing Bozoi gas compressor station, (ii) the construction of Kereit gas metering station and required infrastructure, and (iii) the optimisation of the Borrowers balance sheet by replacing existing hard currency-denominated liabilities with local currency funding.
Project Objectives
The Beineu-Shymkent gas pipeline is an essential part of the Kazakh gas transportation infrastructure - transporting gas produced in the oil and gas rich western region of Kazakhstan to the most populated southern region of the country as well as for export to China. The modernisation and expansion of the existing Bozoi gas compressor station and Kereit gas metering station will improve energy efficiency, reduce fugitive gas emissions and increase throughput capacity of the pipeline from 10 to 15 billion m3 per annum. The Bank will also help the Borrower optimise its balance sheet to achieve a sustainable currency balance between its local currency denominated income and its liabilities thus reducing foreign currency exposure and risk.
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