Ashurst advised China Development Bank (CDB) and Bank of China on the Phase 2 financing of the Beineu-Shymkent Gas Pipeline (BSGP). The project  involved a US$700m upsizing of the existing US$1.8bn syndicated loan facility.

The BSGP pipeline is a strategic project of the Kazakhstan government, which will link gas-rich western Kazakhstan to the consumer market of South Kazakhstan and China (through the China-Central Asia Gas Pipeline). Phase 1 of the 1,475km pipeline was completed in September 2013.

The project is being jointly implemented by Kazakhstan's national oil and gas company KazMunayGas and the China National Petroleum Corporation (CNPC), and was agreed by Kazakhstan and China in a bilateral agreement.

The Ashurst team was led by partner Chen Chin Chuan, assisted by senior associates Fan Zhibin, Virginia Tan and associate Shadow Ni with partner Doo-Soon Choi advising on the Hong Kong law aspects of the transaction.