KMG to borrow USD1 bln from KPO to pay for stake in Karachaganak project

ASTANA. December 14. KAZINFORM Kazakh Oil and Gas Minister Sauat Mynbayev told journalists shortly after the signing ceremony that National Company KazMunaiGas JSC would borrow USD1 bln for three years from the Karachaganak Petroleum Operating (КРО) Consortium partners to pay for the stake in the project.

"KMG will service and repay this loan with the cash flows that the country's 10 % stake in the project will generate," the Minister said.