Companies & Finance

Gazprom allocates another RUB 125 bln for Turkish Stream

Russian major Gazprom has allocated another RUB 125 billion to finance the Turkish Stream pipeline
By Staff reporter 2 October 2018 0 32753

Russian major Gazprom has allocated another RUB 125 billion ($1.9 billion) to finance the Turkish Stream pipeline via its subsidiary Gazprom Transgaz Krasnodar, Interfax reported on Tuesday.

The sum was loaned to South Stream Transport, the project’s Netherlands-based developer, which is 100% owned by Gazprom. The interest rate on the loan, which must be repaid by 30 December 2023, is 5.59% per year and accrues monthly.

The deal was finalised on 26 September. Gazprom allocated a loan of €2.14 billion ($2.51 billion) to South Stream...