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27

Transneft and China Continue Loan Talks

Transneft and Chinese National Petroleum Corporation, along with China Development Bank, are gearing up to resume talks on the extension of a loan to the Russian pipeline giant, chief of Transneft press office Igor Dyomin told RBC yesterday

Igor Dyomin pointed out that negotiations with China's representatives had never actually stopped, but were simply conducted less actively. With this in mind, the parties are expected to resume active talks on Wednesday, Dyomin noted.

Meanwhile, Dyomin did not name the amount of the potential loan, but did add that the Chinese party was planning to announce its decision by the year-end.

The loan is to be secured by raw materials exports.

Author: Ksenia Kochneva