EBRD PLANS TO HELP RUSSIANS EXTRACT CASPIAN GAS, WHILE FINANCING AZERI PIPELINE ACROSS TURKEY
August 1st, 2017
THE EUROPEAN Bank for Reconstruction & Development (EBRD) is planning to lend up to USD100 million to LUKOIL Overseas Shah Deniz Ltd, a wholly-owned subsidiary of Russia’s PJSC LUKOIL, helping it take part in developing Azerbaijan’s Shah Deniz gas field. This investment is a rare EBRD financing of a Russian company. Since Russia’s annexation of the Crimea support for pro-Russian rebels in Ukraine, the bank has refused to take on new clients in Russia – LUKOIL, however, had an established relationship.
Regarding this latest support, LUKOIL has a 10% ...
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