By Adnan Bajic Russian giant Gazprom has secured funds from its compatriot development bank, VEB, for its large liquefied natural gas export project in the Baltic port of Ust-Luga.
Courtesy of Gazprom
VEB said in its statement it has signed a loan deal with RusKhimAlliance, a joint venture between Gazprom and RusGazDobycha, for 55 billion Russian rubles ($730 million).
According to VEB’s website, its loan is limited to 111 billion Russian rubles ($1.48 billion). The funds will be allocated to finance FEED, advance payments under license agreements and subcontracts, including long lead items and other project related expenses.
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