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Gazprom looks to attract $14 billion for Russia’s biggest gas processing plant

Gazprom is in discussions with banks to attract in 2020 project financing of $14 billion for the construction of its Amur GPP.

Gazprom looks to attract $14 billion for Russia’s biggest gas processing plant Gazprom looks to attract $14 billion for Russia’s biggest gas processing plant


Moscow, January 30 - Neftegaz.RU. Gazprom is in discussions with banks as it looks to attract in 2020 project financing of $14 billion for the construction of its Amur gas processing plant, which will be Russia’s largest and the 2nd-largest in the world, Gazprom manager Alexander Ivannikov, who is responsible for the company’s financial and economic policy, told Russian media.

 

Gazprom has reached agreements with export agencies, which are ready to provide guarantees for $7 billion, and talks with banks are ongoing, Ivannikov said. This year, Gazprom won’t need funds for the Amur gas processing plant because its financing needs have been covered by bridge loans, the manager noted.  

 

Gazprom is currently holding talks with 27 banks for financing for next year. The Russian gas giant plans to raise $14 billion for the Amur gas processing plant, including $7 billion in guarantees from export agencies. Once in full operation, the Amur Gas Processing Plant will be Russia’s largest and the world’s 2nd largest natural gas processing facility. The plant is designed to be a crucial link along the Power of Siberia with which Gazprom plans to begin delivering gas to China in December 2019.

 

Construction at the Amur gas processing plant started back in 2015. As of the end of December 2018, the progress on the gas processing plant’s construction was at 24 %, according to Alexey Miller, the CEO of Gazprom. The Amur gas processing plant will have a design capacity of 42 billion m3 of gas per year.

 

The plant is planned to have 6 production lines, and the 1st 2 lines are currently scheduled for commissioning in 2021. The Amur gas processing plant will also host the largest helium production facility in the world, according to the Russian gas giant.

 

Author: Tsvetana Paraskova

Source : Neftegaz.RU