Gazprom to seek loan from EBRD to finance Sakhalin-2 - reports |
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Wed, 28 Feb 2007 14:46
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MOSCOW (AFX) - Gazprom, the majority shareholder in the Sakhalin-2 gas project in Russia's Far East, will ask for a loan from the European Bank for Reconstruction and Development (EBRD) to finance the project, according to reports in the Russian press.'The Russian side has announced that Sakhalin-2 is beginning gas deliveries on schedule and that it is going to ask for a loan from the EBRD,' said the spokesman for the Japanese trade ministry, cited by Russian daily Gazeta, during a visit by a delegation of Russian ministers to Tokyo.According to another daily, RBK Daily, Gazprom will ask for a loan of 300 mln usd from the EBRD for the financing of Sakhalin-2.Gazprom was not available for comment this afternoon.In January, five years after having been asked to provide financing of 300-400 mln usd to Sakhalin-2, the EBRD announced it was no longer considering the financing package of the Sakhalin-2 project since Russian state-held firm Gazprom had become the majority shareholder.At the end of December, the companies participating in Sakhalin-2 -- Royal Dutch Shell, Mitsui & Co and Mitsubishi Corp -- agreed to cut their stakes in the project in half to 27.5 pct, 12.5 pct and 10 pct respectively, enabling Gazprom to acquire a majority stake of 50 percent plus one share for 7.5 bln usd.newsdesk@afxnews.comafp/cmr/ms1COPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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EBRD says no longer considering financing Sakhalin II 