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Gazprom, Asian banks discuss Nord Stream-2 financing

June 22, 12:22 UTC+3

"I have no doubt that Nord Stream-2, as well as the Nord Stream-1, will be successfully implemented," Gazprom official says

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MOSCOW, June 22. /TASS/. Gazprom is consulting on financing of Nord Stream-2 project with Asian banks, and is confident in the implementation of the project, Deputy Chairman of Gazprom Management Committee Andrey Kruglov said at a press conference.

"I have no doubt that Nord Stream-2, as well as the Nord Stream-1, will be successfully implemented," Kruglov said.

Turkish Stream

He went on to say that investment in the Turkish Stream gas pipeline project are estimated at $6 bln, the project can be implemented only at the expense of Gazprom, he said. 

"The volume of the planned investments in the Turkish Stream is around $6 bln. As for the project’s financing, we said that such opportunity exists to finance the sea part of the project. Nevertheless, we planned that the Turkish Stream could be implemented only at the expense of Gazprom," Kruglov said.

Average export gas price

Gazprom assumes the average export gas price will be $180 per thousand cubic meters this year, he said. 

"The average price of exported gas will be probably higher than in the last year and even higher than we budgeted," Kruglov said.

The price of $166 per 1,000 cubic meters is provided in the budget and the actual average export gas price in 2017 may be $180 per 1,000 cubic meters, he added.

"So far our budget has a gas price of $166. The budget was not adjusted. But the forecast figures for the year will be around $180 per 1,000 cubic meters. And in September we will make appropriate changes to our budget," he said.

Investment program 

The investment program of Gazprom in 2018 will be comparable with the level of this year, he said.

"The investment program volume in 2018 will be comparable with the investment program of this year, 2017," Kruglov said. "We do not plan any significant increase in the amount of borrowings in 2018," he said, adding that Gazprom will complete 2017 borrowing program in the first half of the year.

Amur Gas Processing Plant

Gazprom plans to attract project financing for Amur Gas Processing Plant (GPP) at the turn of 2018, department head of the gas holding Alexander Ivannikov said at the press conference on Wednesday.

"As far as Amur Gas Processing Plant is concerned, construction has started already. Its financing was secured in full in 2017. We are working in parallel on project financing. We expect project financing will be available at 2018 year-end," Ivannikov said.

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