The construction of the second line of the Beineu – Bozoy – Shymkent main gas pipeline will be carried out with parity (50/50) financing involving UCC Holding (Qatar) and QazaqGaz. This was reported by Qazaqyia.kz citing Kursiv Media.
The national company told Kursiv that QazaqGaz attracts financing only within its share in the project, while the Qatari company must raise funds under its obligations.
"Currently, the financing of the project (construction of the second line of the Beineu – Bozoy – Shymkent gas pipeline. – Kursiv) is carried out through a shareholder loan agreement on a parity basis according to the shares of participation. External financing is also planned to be attracted," QazaqGaz said in response to a query from Kursiv.
In particular, the national company ensures the project implementation from Kazakhstan's side, while UCC Holding acts as a strategic partner and participates in its implementation in accordance with the agreements reached under the intergovernmental agreement and key agreements between the participants.
During the project implementation period, the functions of the customer and operator are carried out by a joint venture established under the strategic partnership between UCC Holding and QazaqGaz. After the facility is commissioned, the further operational model will be determined in accordance with the corporate decisions of the joint venture participants, the national company clarified.
QazaqGaz also reported which option for constructing the second line of the main gas pipeline was ultimately chosen.
"Based on the results of the feasibility study, the option of constructing the second line of the Beineu – Bozoy – Shymkent main gas pipeline as an independent facility with its own compressor stations and necessary associated infrastructure was selected for implementation. This decision was made taking into account the project implementation under the strategic partnership with UCC Holding (State of Qatar)," the company noted.
In addition, the existing first line of the Beineu – Bozoy – Shymkent main gas pipeline was built and is operated under a different intergovernmental agreement, which was also taken into account when choosing the optimal project implementation model. The chosen solution ensures independent operation of the new gas transportation infrastructure and creates the necessary conditions for effective project implementation and achieving its design indicators, QazaqGaz assured.
Recall that the author of the RACE Telegram channel, Askar Ismailov, noted in a post "It doesn't smell like Qatar" that QazaqGaz is placing a second tranche of bonds worth $500 million for a term of 1 year with a coupon rate of 5.5% per annum under a bond program of $1.5 billion. In May 2026, QazaqGaz already placed the first tranche of $1 billion under this program. The raised funds will be directed to the project of constructing the second line of the Beineu – Bozoy – Shymkent main gas pipeline.
"Apparently, the Samruk-Kazyna fund decided to finance the project worth more than $7 billion itself? Then it is unclear why the Qatari investor will ultimately receive income, and not Kazakhstan? According to my calculations, the margin there is extremely indecently high for an infrastructure project, especially if the state provides guarantees in the form of transport or pay (or other economic guarantees)," he wrote.
In September 2025, Kursiv reported that QazaqGaz was considering two options for constructing the second line of the Beineu – Bozoy – Shymkent gas pipeline. In particular, the first option planned to build new compressor stations and other infrastructure facilities to serve the second line of BBS, with a capacity of 15 billion cubic meters of gas per year.
The second option planned to increase the capacity of the existing compressor stations of the first line so that they could pump up to 30 billion cubic meters per year using design jumpers between the two lines. The current capacity of the first line of BBS is 15 billion cubic meters per year.
The cost of constructing the second line of the Beineu – Bozoy – Shymkent main gas pipeline with a capacity of 15 billion cubic meters of gas per year will be 2.7 trillion tenge, Energy Minister Almasadam Satkaliyev (now this post is held by Yerlan Akkenzhenov) said in February 2024.
The length of the second line of the BBS gas pipeline will be 1,450.2 km. At the first stage, it is planned to ensure the capacity of the second line at 10 billion cubic meters per year, at the second stage – to bring it to 15 billion cubic meters per year – the same as the capacity of the first line of the gas pipeline.
The gas pipeline facilities will be located in Mangystau region (121.3 km), Aktobe region (239 km), Kyzylorda region (848.1 km), and Turkestan region (241.2 km). Work is planned to begin in September 2025 and be completed in February 2029. After launch, the planned service life of the second line of BBS will be at least 30 years.
Through the gas pipeline, natural gas from oil and gas fields in western Kazakhstan will be supplied to the Kazakh market, as well as for export to China. Earlier, QazaqGaz and the Ministry of Energy repeatedly reported that during the autumn-winter period, the first line of BBS operates at the limit of its capabilities.