Completed Mixed AidData Chinese Aid

ICBC provides $540 million loan to refinance debts of the Kazakhstan-China Oil Pipeline Company (Linked to Record ID#54527 and #54524)

$540K USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Kazakhstan-China Pipeline LLP (KCP)
Country	Kazakhstan
Start Date	Jun 27, 2018
End Date	Jun 01, 2032
Duration	5,088 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`72865`

Grant Description

ICBC provides $540 million loan to refinance debts of the Kazakhstan-China Oil Pipeline Company On June 27, 2018, the Industrial and Commercial Bank of China signed a $540,000,000 loan (facility) agreement with Kazakhstan-China Pipeline LLP (中哈管道有限责任公司 or KCP) — a special purpose vehicle and joint venture of China National Oil and Gas Exploration and Development Corporation (CNODC) and JSC KazTransOil (KTO) — to refinance two loans provided to the same project company (Kazakhstan-China Pipeline LLP) for the Kazakhstan-China Oil Pipeline Project (see Record ID#54524 and Record ID#54527).

On August 3, 2022, KCP repaid $80 million of the loan's principal ahead of schedule. The loan's (principal) amount outstanding was $140 million as of September 30, 2022. The loan was repaid in full in February 2024.

📋 Staff Comments

1. On July 6, 2004, JSC KazTransOil (KTO) — a state-owned oil pipeline operator in Kazakhstan — and China National Oil and Gas Exploration and Development Corporation (CNODC) created a special purpose vehicle called Kazakhstan-China Pipeline LLP (KCP). KCP, which is jointly owned by KTO (50% equity stake) and CNODC (50% equity stake), was created to construct and operate the Atasu-Alashankou pipeline and the Kenkiyak-Kumkol pipeline. These pipelines are two of three pipeline systems of the Kazakhstan-China Pipeline network, which was built to create a transport corridor for the export of Kazakhstani oil to China.

📚 Sources & References

Evgenia Laurson Partner
BANKING AND FINANCE: LENDER OR ARRANGER SIDE-Work highlights, ПРЕЗЕНТАЦИЯ
PRESENTATION for the hearing of the annual report on activity of Kazakhstan-China Pipeline LLP for 2019 on provision of a regulated service – transportation of oil through Kenkiyak-Kumkol pipeline within the domestic market, for consumers and other interested persons
KazTransOil JSC Interim condensed consolidated financial statements
哈中管道有限公司提前偿清对中国5.4亿美元贷款 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.