Eurasian Development Bank finances project on utilization of associated gas in Kazakhstan

ALMATY. January 19. KAZINFORM /Daniyar Sikhimbayev/ Eurasian Development Bank (EDB) participates in the financing of a project on organization of industrial utilization of the associated gas on ?Kenlyk? deposit in Kyzylorda region, Kazinform refers to the press service of the bank.

In accordance with the credit agreement, signed between the EDB and ?Kazfrac? LLC, the bank allocates USD 25 mln for the realization of the project in terms of nonrevolving credit line for the term of 8 years. The project provides rational usage of associated gas through its utilization and processing instead of flaring. The products of processing are widely used as a fuel in the communal services and at the oil-and-gas enterprises and plants of organic synthesis. The project corresponds to the strategy of the EDB. It is aimed at increasing efficiency of use of natural resources, environmental protection and improvement of ecological situation. It is expected that the main part of production will be exported to CIS and non-CIS countries.