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National company QazaqGaz has successfully issued $700 million in Eurobonds on the Astana International Financial Centre (AIFC) Exchange, according to Tizgin.kz. The 10-year notes carry an annual coupon rate of 5.625%.
The transaction was spearheaded by Citi and J.P. Morgan, acting as joint global coordinators. Halyk Finance served as the local lead manager, with Freedom Broker acting as co-manager.
The capital raise follows the Kazakh government’s mandate for QazaqGaz to independently construct a gas processing plant (GPP) at the Karachaganak field with an annual capacity of 5 billion cubic meters. Officials had previously indicated that Eurobond issuances would be a primary funding vehicle for the project.
While the project was originally intended to be executed by the international consortium operating the Karachaganak field, the Ministry of Energy confirmed last summer that two years of negotiations with the shareholders had failed to reach an agreement. Consequently, Kazakhstan made the strategic decision to move forward with the project using national resources. Recent reports indicate that operators had initially requested an additional $1 billion in state funding for the facility’s construction.
Worley joins Downstream Central Asia & Caspian 2026 as Project Delivery Partner!
We are proud to welcome Worley, the world’s largest provider of engineering, project and asset management solutions in the energy, chemicals and resources sectors, as an official Project Delivery Partner for our 13th annual summit.
With 40,000+ experts across 40+ countries and a track record of over 2,100 downstream projects globally, Worley helps operators navigate complex project environments from concept through to execution.
Across Kazakhstan, Uzbekistan, and Azerbaijan, Worley combines global technical expertise with deep regional knowledge, supporting project owners in managing risk, improving project certainty, and advancing major refining and petrochemical investments.
Uzbek Minister of Investment, Industry and Trade Laziz Kudratov met with a high-level delegation from Qatari investment group Al Alfia Holding, led by special representative Zainab Al-Yusuf, on August 13, 2026, to advance joint commercial initiatives and evaluate new industrial ventures across Uzbekistan.
The strategic talks focused on transitioning ongoing investment proposals into active operational phases while establishing new manufacturing and infrastructure projects anchored in localized production and regional growth.
Lummus' presence in Central Asia includes some of the region’s most significant downstream developments. Lummus’ technologies are being deployed at Kazakhstan Petrochemical Industries’ (KPI) integrated petrochemical complex, Silleno LLP’s polyethylene project and Butadiene LLP’s synthetic rubber facility, helping establish new manufacturing capabilities and strengthen Kazakhstan’s position within the global petrochemical value chain.