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Article: EBRD to refinance Kazakh Kenkiyak-Atyrau stake.
- Article from:
- Energy News
- Article date:
- June 25, 2004
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EBRD to refinance Kazakh Kenkiyak-Atyrau stake
MOSCOW. June 25 (Interfax) - The board of directors of the European Bank for Reconstruction and Development has confirmed a project to finance part of Kazakh debt in a project to build the Kenkiyak-Atyrau pipeline, Richard Wallis, the EBRD's press secretary in Moscow, told Interfax.
The EBRD plans to provide a long-term credit of $81.6 million to the operator of the project ZAO Northwest Pipeline Company MunaiTas, which is a joint venture between KazMunaiGaz (51%) and China National Petroleum Corporation (49%). The project is being financed by the Kazakh and Chinese sides in proportion to their stakes.
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