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    Oktay Movsumov: Foreign banks support LUKoil and Shah Deniz project

    Commercial banks ING, Bank of China, Unicredit, Societe Generale also involved in funding

    Baku. 7 August. REPORT.AZ/ "Today's ceremony is a pretty major event for LUKoil, and the project" Shah Deniz". We signed an agreement with leading global banks such as the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB) and the Black Sea Trade and Development Bank (BSTDB) ". 

    Report informs, LUKoil head of project and structured finance Oktay Movsumov told reporters.

    According to him a 12 year credit-facility agreement with a consortium of banks to borrow USD 1 billion.

    The loan is granted on very good conditions either for LUKoil, and the project "Shahdeniz", added O.Movsumov.

    According to O.Movsumov, in addition to the above-mentioned banks, commercial banks are also involved in funding, such as Dutch ING, the Chinese Bank of China, the Italian Unicredit, the French Societe Generale:"We are grateful for the preparation of the project with a partner company SOCAR, as well as operators of " Shahdeniz "- the company BP. I think this is evidence of the support of the international banks, not only the project, but also the current realities of Azerbaijan."

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