Uzbek Gas Field Lands $1B Loan From S. Korea Ex-Im Bank

Law360, New York (March 26, 2012, 2:14 PM EDT) -- South Korea's export-import bank said Monday it will provide a $1 billion loan for Uzbekistan's biggest-ever natural gas project, a $4.2 billion development sponsored by a trio of South Korean energy companies.

The Surgil gas project is the latest beneficiary of ramped-up spending by Kexim and other export credit agencies in the wake of Europe's banking troubles.

The project is a joint venture between Uzbekistan's state-owned gas company, National Holding Co. Uzbekneftegaz, and three South Korean companies — Korea Gas Co., Honam Petrochemical Corp. and a...
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