US suspends procedure of issuing nonimmigrant visas throughout Russia as of August 23Russian Politics & Diplomacy August 21, 11:59
Four victims of Surgut stabbing remain in grave conditionWorld August 21, 11:21
Russian Arctic National Park to set up reserve area on Novaya ZemlyaSociety & Culture August 21, 9:36
Iranian president calls defending nuclear deal top priorityWorld August 21, 8:20
US guided-missile destroyer collides with merchant vessel in SingaporeMilitary & Defense August 21, 8:02
Russian military aviation stamps out terrorists en-route to Syria’s Deir ez-ZorMilitary & Defense August 21, 6:47
Putin visits international jazz festival in Crimea’s KoktebelSociety & Culture August 21, 2:31
Putin says he cares little about his style but tries to look elegantSociety & Culture August 20, 23:41
Militants launch shell on exhibition complex near Damascus — mediaWorld August 20, 15:27
MOSCOW, June 6. /TASS/. Gazprom, Engie, OMV, Royal Dutch Shell, Uniper and Wintershall signed an agreement on deficit financing for the Nord Stream-2 project, Gazprom said in a statement.
The agreement envisages granting a loan of up to 6.65 billion euros to the Nord Stream-2 in case of insufficient project financing.
"The agreement on deficit financing regulates the obligation to provide a loan to Nord Stream-2 AG in the event of failure to attract or insufficient attraction of project financing (up to 70% of the total project costs, or up to 6.65 bln euros) under the EURIBOR + rate from 5.75 % to 6.75% per annum (depending on the volume of financing), "the statement said.
Earlier, Gazprom and five European companies - France’s Engie, Austria’s OMV, British-Dutch Royal Dutch Shell, Germany’s Uniper and Wintershall signed an agreement on the new financing model for the Nord Stream-2 gas pipeline project.
Gazprom will remain the only shareholder of Nord Stream-2 AG company and the five European companies pledge to provide long-term financing in the amount of 50% of the total project cost which is about 9.5 bln euros. Thus, the contribution of each company will amount to 950 mln euro.
According to Shell, each company will provide a long-term credit line for 285 million euros, which is expected to be used in 2017. In addition, funds amounting to 665 million euros will be provided in a combination of short-term and long-term loans, as well as guarantees.
The Nord Stream 2 pipeline is expected to come into service at the end of 2019. The pipeline is set to run from the Russian coast along the Baltic Sea bed to the German shore. Each of the pipeline’s two stretches will have a capacity of 27.5 bln cubic meters. The new pipeline will double the capacity of the first stretch and will basically follow its route.
Swiss Nord Stream 2 AG was established for the planning, construction and operation of the gas pipeline, which now belongs entirely to Gazprom.