Uzbekistan attracts Chinese loan for construction of two compressor stations
Tashkent, Uzbekistan, July 3
By Demir Azizov- Trend:
Uzbekistan plans to attract a loan from the China Development Bank (CDB) in July - August in the amount of $100 million to complete the construction of two booster compressor stations in the Kashkadarya region (south of Uzbekistan), a source in government circles told Trend.
The government has proceeded to the final stage of negotiations with the CDB leadership on the allocation of credit for the construction of the "Shurtan" and "Alan" booster compressor stations in the Kashkadarya region with a total capacity of nine billion cubic meters of gas per year, the source said.
Recall that the construction of the booster compressor station is part of the additional development projects on two fields -Alan gas field and Shurtan gas condensate field with a total value of $559.7 million, including the total cost of construction of the booster compressor station at $254 million.
Projects implemented in 2012 will help to sustain production of gas in the fields under depletion of gas pressure. Their implementation will bring overall annual gas production in the fields up to 9.5 billion cubic meters of gas per year in the long-term.
The project's funding is carried out at the expense of "Uzbekneftegaz" in the amount of $250.9 million, a loan from the Fund for Reconstruction and Development of Uzbekistan - $106.9 million, loans from local and foreign banks - $202.2 million.
Uzbekistan holds third place among the CIS countries for the production of natural gas and is among the ten largest gas-producing countries in the world. Every year, the country produces more than 60 billion cubic meters of natural gas, about 25 percent of which is exported.
Edited by CN