Kazakh-Chinese Pipeline LLP (50% participation of KazTransOil JSC and 50% participation of China National Oil and Gas Exploration and Development Corporation) repaid the loan of Industrial and Commercial Bank of China (ICBC) in the amount of $540 million ahead of schedule, the KazTransOil press service reports.
In 2004-2008, to finance the construction of the Atasu-Alashankou and Kenkiyak -Kumkol trunk oil pipelines, Kazakh-Chinese Pipeline LLP attracted borrowed funds from international commercial banks totaling $1.6 billion. In 2018, the loan balance in the amount of $540 million was refinanced by concluding a loan agreement with Industrial and Commercial Bank of China (ICBC).
As a result of early repayment of the loan, Kazakh-Chinese Pipeline LLP reduced remuneration costs by $1.73 million (KZT796 million).
Kazakh-Chinese Pipeline LLP owns the Kenkiyak-Kumkol and Atasu -Alashankou trunk oil pipelines. These pipelines are part of the Kazakhstan-China oil trunk pipeline system.
The Atasu-Alashankou oil trunk pipeline was commissioned in 2006. It is intended for the transportation of oil from the “West Kazakhstan,” “Aktobe” and “Kumkol” fields to China, as well as for the transit of Russian oil to China. The design capacity of the pipeline is 20 million tons of oil per year. The length of the pipeline is 965.1 km.
The Kenkiyak-Kumkol oil trunk pipeline was commissioned in 2009. It is intended for the transportation of oil from “West Kazakhstan” and “Aktobe” fields. The design capacity of the pipeline is 10 million tons of oil per year. The length of the pipeline is 794.2 km.
