Dec 14 Chinese leader Hu Jintao was due to open
a new gas pipeline from Turkmenistan on Monday, a new milestone
in Beijing's quest for control over the region's abundant
Beijing has stepped up its presence in ex-Soviet Central
Asia over past years by handing out billions of dollars in
loans, snapping up energy assets and building an oil pipeline
from Kazakhstan. [ID:nSGE5BD0BQ]
Below is the list of recent Chinese investments in Central
Asia's energy sector:
China's state-owned CNPC [CNPET.UL] bought Kazakh oil
producer MangistauMunaiGas MMGZ.KZ for $2.6 billion in a
joint deal with Kazakh state firm KazMunaiGas [KMG.UL] in
MangistauMunaigas, based in the kazakh town of Aktau, has
residual oil reserves of 812 million tonnes.
In exchange for securing the asset, China gave Kazakhstan
$10 billion in loans to finance various projects -- a
much-needed liquidity boost for the Kazakh economy hit hard by
the economic crisis.
China has agreed to issue a $4 billion loan to Turkmenistan
to develop the Central Asian state's largest gas field, South
South Iolotan contains between 4 trillion and 14 trillion
cubic metres of gas, Britain's Gaffney, Cline and Associates
said in 2008 -- making it one of the world's five largest
China's Sinochem Corp is near a $320 million deal to buy
Kazakh independent oil company Sumbe, industry sources told
Reuters in November.
Sumbe SUMB.KZ produces about 4,000 barrels per day of oil
and holds a remaining recoverable oil reserve of some 66
China Investment Corp (CIC) bought an 11 percent stake in
KazMunaiGas Exploration and Production (KazMunaiGas EP)
(KMGq.L), an upstream arm of Kazakh state energy firm
KazMunaiGas [KMG.UL], for $939 million in October.
KazMunaiGas EP produced 12 million tonnes of oil in 2008
and is one of Kazakhstan's top three producers. The total
volume of its proved and probable reserves, as at the end of
2008, is 241 million tonnes (1.8 billion barrels).
China Guandong Nuclear Power Co (CGNPC) said in April it
would develop a new uranium deposit in Kazakhstan with reserves
of 40,000 tonnes together with Kazakh state firm Kazatomprom.
China plans to import a total of 24,200 tonnes of Kazakh
uranium between 2008 and 2012, it said.
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.
CNPC International paid $3.96 billion to acquire a 33
percent stake in Kazakh oil producer PetroKazakhstan in 2005.
(Editing by Jerry Norton)