Gazprom Board of Directors has approved the granting of a loan to South Stream Transport B.V., which is an operator of building the offshore segment of Turkish Stream, the holding reports.
The loan amounts to €2,143 billion. According to the company, a loan agreement with South Stream Transport B.V. was approved as a bargain in which there is an interest.
Under the deal, Gazprom provides South Stream Transport B.V. a sum of money in the total amount not exceeding €2,143 billion. Interests on borrowings under the agreement are charged monthly at a rate of 3.98% per annum of the outstanding amount of the principal amount of the loan. The interest rate can be changed by mutual written agreement of the parties.
