China granted Turkmengaz state concern loan of many billions
Turkmenistan, Ashgabat, June 25 / Trend G. Hasanov /
China's state development bank granted loan in the amount of $4 billion to Turkmengaz state concern. This agreement was signed within visit of vice Premier Minister of Chinese state council Li Keqiang to Ashgabat.
Turkmen government said that the agreement on purposeful loan in the amount of $3 billion was reached with China to develop natural gas resources on south Iolotan, included in four biggest gas fields in the world. Forecasted resources hit 4-14 trillion cubic meters of gas.
Two countries are connected with common gas pipeline project. Its construction is conducted via territories of Uzbekistan and Kazakhstan.
Transportation of gas via pipe of 30-40 billion cubic meter capacity per year was scheduled for early 2010. Initial capacity will hit 5 billion cubic meters of fuel.