TODAY.AZ / Business

EBRD, LUKOIL to ink credit agreements on Azeri project

29 July 2005 [08:14] - TODAY.AZ
The European Bank for Reconstruction and Development (EBRD) and Lukoil Overseas Holding Limited will sign in Moscow on Thursday a $100m credit agreement on financing a part of expenses under the project on development of gas-condensate field Shah-Daniz.
The EBRD will also present to Lukoil Overseas a $70m loan under the construction of the South Caucasus Pipeline (SCP), which will transport gas from the Shah Daniz field to Georgia and Turkey.

According to the EBRD, LUKOIL holds $277.7 bn in Stage 1 of Shah-Daniz project with the estimated value of $2,777bn. The first gas via the SCP will be transported to Turkey by winter 2006. Partners in the Shah-Daniz project have signed some agreements on gas purchases with the governments of Azerbaijan, Georgia and Turkey. (Trend)

URL: http://www.today.az/news/business/20202.html

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