Gazprom signs €6,65-billion agreement on Nord Stream 2 financing

Gazprom signs €6,65-billion agreement on Nord Stream 2 financing
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Russian gas holding Gazprom has signed with its partners an agreement on deficit financing of the Nord Stream 2 project, as it follows from a report released by the company.

According to the document, the agreement on deficit financing governs the loan obligations to Nord Stream 2 AG in case of non-financing or insufficient project funding (70% of total project costs, or up to €6,65 billion) at an interest rate of Euribor+ 5.75% to 6.75% per annum (depending on the volume of financing).

Parties to the transaction are Nord Stream 2, Gazprom, Glas Trust Corporation Ltd. (facility agent), Engie Energy Management Holding Switzerland, OMV Gas Marketing Trading & Finance, Shell Exploration and Production (LXXI), Uniper Gas Transportation & Finance, Wintershall Nederland Transport and Trading.

At the end of April, Nord Stream 2 AG signed with Engie, OMV, Royal Dutch Shell, Wintershall and Uniper an agreement of the Nord Stream 2 project financing in the amount of €4.75 billion.