FACTBOX-China's energy ties with central Asia
BEIJING, Sept 30 (Reuters) - Chinese sovereign wealth fund China Investment Corp (CIC), fresh from a series of investments in the global commodities sector, said on Wednesday it had purchased a stake in a Kazakhstan oil and gas company.
CIC said it paid $939 million for about 11 percent of the
Global Depositary Receipts (GDRs) of JSC KazMunaiGas
Exploration and Production RDGZ.KZ (KMGq.L) through its
wholly owned subsidiary, Fullbloom Investment Corporation.
[ID:nPEK69341]
China's top oil and gas firm CNPC had 16 projects in central Asia and Russia and top refiner Sinopec Group had 8, as of the end of 2007, according to a report by CNPC.
The following are some of the investments or proposed deals made by China firms in central Asia in recent years.
April 24, 2009 - CNPC agreed with Kazakhstan's state oil firm KazMunaiGas to jointly buy oil producer MangistauMunaiGas for $3.3 billion. As part of the deal, China agreed to lend Kazakhstan $10 billion in a "loan-for-oil" deal. [ID:nPEK332461]
April 4, 2009 -- China Guandong Nuclear Power Co (CGNPC) and Kazakh state nuclear firm Kazatomprom plans to boost uranium output in their joint venture.
April 2008 -- Kazakhstan will support China in developing oil and gas resources on the continental shelf of the Caspian Sea, according to a joint communique by the two governments.
June 2006 -- A subsidiary of China National Petroleum Corp. (CNPC) planned to spend $210 million to look for oil and gas in Uzbekistan over the next five years.
April 2006 -- China agreed to buy 30 billion cubic metres of gas from Turkmenistan through a new pipeline each year. Both sides later agreed to expand the sales to 40 billion cubic metres a year. Part of the pipeline is expected to be operational by the end of 2009.
2006 -- State-owned investment group CITIC bought the Kazakh oil assets of Canada-based Nations Energy Co. Ltd. for $1.9 billion. The cornerstone of those assets was the Karazhanbas oil and gas field, which has proven reserves of more than 340 million barrels and production of over 50,000 barrels per day.
2005 -- CNPC International paid $3.96 billion to acquire a 33 percent stake in PetroKazakhstan.
1997 -- Kazakhstan and China agreed to build a 3,000 km crude oil pipeline and would later double the capacity of the combined pipeline to 20 million tonnes a year. (Reporting by Jim Bai and Chen Aizhu; Editing by Clarence Fernandez)
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