Banks provide $850M credit to Gazprom

Russian gas company Gazprom has received a credit facility of 800 million euros (approx. $848.8M) from a consortium of three banks. 

The Russian company signed the four-year facility agreement with Japan’s Mizuho Bank and Sumitomo Mitsui Banking Corporation (SMBC), and U.S.-based JPMorgan Chase Bank at its headquarters on Monday.

On behalf of Gazprom the document was signed by Andrey Kruglov, Deputy Chairman of the Gazprom Management Committee, on behalf of the Japanese banks by Teiji Teramoto, Managing Executive Officer, Head of Europe, Middle East and Africa of Mizuho, and by Tetsuro Imaeda, Head of Europe, Middle East and Africa Division of SMBC, and on behalf of JPMorgan Chase Bank, N.A. by Yan Tavrovsky, President of CB “J.P. Morgan Bank International” (LLC).

In related news, a Gazprom-owned company, South Stream Transport, awarded a contract last week to Allseas’ giant pipelay and construction vessel, the Pioneering Spirit, to lay the first line of the TurkStream offshore gas pipeline in the Black Sea, with an option for laying the second line.

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