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ICBC provides EUR 175 million loan to Silivri Underground Natural Gas Storage Facility Project
| Funder | Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) |
|---|---|
| Recipient Organization | BOTAŞ Petroleum Pipeline Corporation |
| Country | Turkey |
| Start Date | Oct 18, 2019 |
| End Date | Mar 16, 2028 |
| Duration | 3,072 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 92210 |
Grant Description
ICBC provides EUR 175 million loan to Silivri Underground Natural Gas Storage Facility Project On October 18, 2019, the Industrial and Commercial Bank of China (ICBC) and BOTAŞ Petroleum Pipeline Corporation (BOTAS) — a Turkish state-owned crude oil and natural gas company — signed an EUR 175 million loan agreement for the Silivri Underground Natural Gas Storage Facility Project.
Its interest rate is unknown. The Government of Turkey issued a sovereign guarantee in support of the loan.
The purpose of the project is to increase the capacity of the Silivri Underground Natural Gas Storage Facility from 2.8 billion to 4.6 billion cubic meters of gas.
The facility is located in the vicinity of Alipasa Village (near TEM Kinali toll booths) in Silivri, approximately 65 km to the west of Istanbul.
Staff Comments
- The Turkish project title is Silivri Doğal Gaz Depolama Tesisinin kapasitesini genişletmek or TPAO Silivri Yer Altı Doğalgaz Depolama Tesisi.
- BOTAŞ Petroleum Pipeline Corporation (BOTAS) is the state-owned crude oil and natural gas pipelines and trading company in Turkey. The company was established in 1974 as a subsidiary of Türkiye Petrolleri Anonim Ortaklığı (TPAO). Since 1995, BOTAS is a wholly state-owned company.
Sources & References
- Public Debt Management Report December 2019
- Massive Chinese Bank Funding Energy Projects in Turkey
- ANNUAL REPORT OF THE REPUBLIC OF TURKEY
- ICBC Turkey Bank A.Ş. 5th Anniversary 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.
All Grantees
BOTAŞ Petroleum Pipeline Corporation
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