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Article: Nord Stream To Sound Out Financiers.
- Article from:
- NEFTE Compass
- Article date:
- December 16, 2008
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The Gazprom-led Nord Stream pipeline project expects to advance early in 2009 on the launch of a formal "market sounding" of potential financiers, after more than two years of informal talks with more than 20 banks.
"We have an excellent offering and, even in this difficult market, we will find backing. We aim to have first drawdown of the funds in July 2009," Chief Financial Officer Paul Corcoran told Nefte Compass in an interview earlier this month.
"Gazprom has a ship-or-pay contract, so 100% of the capacity is booked. That's one of the attractive aspects for lenders," he added, with contracts signed by Gazprom for 21 billion cubic meters per year to ...