The 1,818km pipeline is part of the Central Asia-China pipeline and is expected to cost $11 billion. When completed, it will deliver 30bcm of natural gas annually from Turkmenistan to China via Kazakhstan and Uzbekistan. The financing for the Kazakh section was signed on 22 October 2008, with the financing for the Uzbek section signed on 18 November 2008.

"We are delighted to have been invited to work on this project," said partner Geraint Hughes, Clifford Chance’s Regional Head of Energy and Infrastructure based in Hong Kong. "It is a tribute to the professionalism and commitment of the organisations and individuals involved that, despite unprecedented debt market turbulence, we have been able to finalise one of the largest project loans ever arranged in Asia in just four months.

"This demonstrates the breadth of advice that the firm can offer energy and infrastructure clients in this region. With nearly 30 years’ experience in Asia, Clifford Chance provides clients with global sector expertise, a thorough understanding of the technical and commercial issues in the energy sector, and first-rate local knowledge and transactional skills."

The Clifford Chance team comprised members of the firm’s 70-strong Asian energy and infrastructure group, including Geraint Hughes, partner Bruce Schulberg in Beijing, and senior associates Maggie Lo in Beijing and Chin Chuan Chen in Shanghai.