In his interview to Russian RBC Vagit Alekperov, LUKoil President, refuted the statement that foreign banks cannot allot the company credit, because of the sanctions.
“We have been working with the banks to fund our projects, including the Shah Deniz project,” Alekperov added.
He said “the company has been negotiating with EBRD and we already have confirmation that the funding will be ensured.”
He also added that LUKoil has been working with the Asian countries to fund the company’s projects in Uzbekistan.
“The markets are not closed for us, but we failed to place our bonds,” he explained.
In the near future LUKoil plans to get a credit worth $500 million from EBRD and $450 million worth credit from Asian Development Bank (ADB) to fund its 10% share in the Shah Deniz-2 project.
