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Kandym GPP launched in Uzbekistan, LUKOIL raised a loan to finance a part of the construction costs

LUKOIL has raised a $660 million loan with a 10 years maturity to finance a part of the incurred construction costs for gas processing plant.

Kandym GPP launched in Uzbekistan, LUKOIL raised a loan to finance a part of the construction costs Kandym GPP launched in Uzbekistan, LUKOIL raised a loan to finance a part of the construction costs


Tashkent, April 19 - Neftegaz.RU. The opening ceremony was attended by the head of LUKOIL Vagit Alekperov, the Minister of energy of Russia Alexander Novak and President of Uzbekistan Shavkat Mirziyoyev.

 

The gas processing complex at the Kandym field in Uzbekistan had been launched ahead of schedule. Russian Prime Minister Dmitry Medvedev sent a congratulatory message to the staff of the Kandym gas processing complex.

 

LUKOIL has been implementing the Kandym project since 2004 jointly with the Uzbekneftegaz under the Kandym-Khauzak-Shady-Kungrad PSA. The Kandym group includes 6 gas condensate fields - Kandym, Kuvachi-Alat, Akkum, Parsankul, Khodzhi and Western Khodzhi.

 

The 8.1 billion cubic meters throughput capacity Kandym Gas Processing Plant from the Kandym fields group in the Bukhara province will produce 7.9 billion cubic meters of purified natural gas in the amount of, 134.4 thousand tons of stable gas condensate, and 212.9 thousand tons of lumpy and granulated sulfur, with 2125 new jobs to be created.

 

LUKOIL has raised a $ 660 million loan with a 10 years maturity to finance a part of the incurred construction costs for GPP at the Kandym field. LUKOIL Overseas Uzbekistan Ltd. acts as a borrower. The loan was provided by ING Bank, UniCredit Bank and Deutsche Bank. Insurance is provided by the Korea Trade Insurance Corporation (K-Sure).

 

​The agreement represents a new level of financial cooperation between Uzbekistan, the Republic of Korea and LUKOIL Group and confirms high investment prospects of projects in the region

 

Uzbekistan is one of the core regions of LUKOIL’s operations. The company has been working in Uzbekistan for 15 years. Total investments in all projects in the country exceeded $ 7 billion.

 

To read the full story in Russian.

 

 

Source : Neftegaz.RU