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European banks have allocated record funding for the construction of the Amur gas processing plant of Gazprom

Russia / Europe

OOO "Gazprom pererabotka Blagoveshchensk" and PJSC "Gazprom" has completed the signing of loan and security documentation as part of the deal for project funding for the construction of the Amur gas processing plant (GPP).

European banks have allocated record funding for the construction of the Amur gas processing plant of Gazprom

the volume of project financing, the lending transaction the construction of the Amur gas processing plant — unprecedented in the history of "Gazprom" and one of the largest borrowings in the debt market of Europe over the past few years.

"the Completion of the transaction of attraction of project financing is a significant event for the project. Now it is supported by our long-standing reliable partners from Europe, Asia and Russia. And most importantly, we for the first time in its history, has attracted project financing from Chinese banks," - said the head of Gazprom Alexey Miller.

the Total volume of attracted investment of 11.4 billion euros. Tools provide 22 European, Asian, and Russian Bank. The borrower is "Gazprom pererabotka Blagoveshchensk".

"I'm Sure the deal will be the Foundation for the strengthening and development of mutually beneficial cooperation in key to Gazprom's financial markets in the long term", — said the Chairman of the Board of PJSC "Gazprom" Alexey Miller.

From the European and Japanese credit institutions in a transaction involving 14 banks. They allocate to 3.66 billion euros under the coverage of Western export credit agencies for a period of 17 years. "Gazprom pererabotka Blagoveshchensk" is the first Russian company, which attracts project financing under the coverage of agencies for such a long time. Another 1 billion Euro for a period of 15 years provided no cover.

by the Chinese organizations, the project supported by the Bank of China, China Construction Bank Corporation and China Development Bank. Among them the largest lender — China Development Bank. These financial institutions open a credit line in the amount of 3.4 billion euros for a period of 15 years.

a Russian organization — the Gazprombank (joint stock company), Sberbank of Russia, VTB Bank, OTKRITIE Bank and State Corporation development "the web.Of the Russian Federation" — provide multi-currency credit line in the amount of 1.08 billion euros and 170 billion rubles. About one third of the total amount under the insurance coverage of the Russian Agency for insurance of export credits and investments (EXIAR).

the Amur gas processing plant will be one of the most powerful gas-processing plants in the world. Its construction is in full swing — to date, the project is 54%.

the Design capacity of the plant will amount to 42 billion cubic meters of gas per year. The GPP will include the world's largest helium production.

the Plant will consist of six production lines. The commissioning of the first of two scheduled in 2021. Other lines will be introduced sequentially until the end of 2024. Thus, from 2025, the plant is scheduled to be at full capacity.

the commercial products of the GEA, in addition to natural gas and helium, are ethane, propane, butane, pentane-hexane fraction.

МЕТАЛЛУРГПРОМ
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