Issue of attracting loan from EBRD for construction of gas pipeline to Astana being addressed — K. Bozumbayev

The European Bank for Reconstruction and Development (EBRD) has started talks with Azerbaijan and Turkey on its possible financing of the Trans-Anatolian gas pipeline (TANAP), an official at the.

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The financial package will consist of two senior secured loans of up to $30,000,000 from the EBRD and up to $10,400,000 from the Clean Technology Fund. The ADB is providing a loan of up to $12,000,000 to co-finance the project. To date, the EBRD has been the sole project finance provider for renewable projects in Kazakhstan.

It was initially planned to build a gas pipeline carrying 6 billion cubic meters a year, but in late 2012 then Vice-Chairman of samruk kazyna national wellfare fund made a statement about the capacity of the planned gas pipeline Kartaly-Astana being halved.

In addition, the EBRD will cooperate with other international financial institutions and commercial lenders with a view to attracting further investment to the Kazakh economy. This will help Kazakhstan reduce its dependence on primary industries and commodity exports, helping the country to establish a more diverse and sustainable economic model.

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The terms for completion of the construction of the gas pipeline to Astana were announced at a government session in Kazakhstan on March 13. kazakh energy minister kanat Bozumbayev spoke about the plan to build a natural gas pipeline to Astana, Kazinform reported. Addressing the session, he noted.

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The European Bank for Reconstruction and Development has approved crucial $500m financing for a pipeline to bring Azeri gas from the Caspian Sea to the EU, despite questions about Azerbaijan’s.

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The Kazakh Ministry of Energy is negotiating with the European Bank for Reconstruction and Development (EBRD) to finance the construction of the Kazakhstan’s Saryarka main gas pipeline. This was announced by kazakh energy minister kanat bozumbayev during the meeting of the government, Kazinform.