Sberbank CIB will provide “Sovcomflot” credit for $340 million

Moscow. December 22. The investment division of Sberbank – Sberbank CIB will provide “SCF” $340 million for 14 years, said the carrier.

The parties signed a corresponding loan agreement. Funds will be used for creation of infrastructure for marine transportation of crude oil from Novoportovskoye oil and gas condensate field (the operator is “Gazprom Neft”) on the Yamal Peninsula.

“The project involves year-round deliveries of crude oil by Shuttle tankers of high ice-class group “Sovkomflot” using fixed offshore offloading terminal in the Gulf of Ob”, – stated in the message. Production of the oil field will begin in 2016.

Group Sovcomflot is Russia’s largest shipping company, engaged in marine transportation of hydrocarbons as well as servicing the offshore exploration and production of oil and gas. GFR has 143 vessels with a total deadweight of about 12.4 million tons. A third of the vessels have a high ice class. The company is involved in the maintenance of large energy projects in Russia and in the world – “Sakhalin-1” and “Sakhalin-2”, Varandey, Prirazlomnoye, Novy port, Yamal LNG, Tangguh, and Peregrino.

Sberbank in the first three quarters of 2015 takes 1st place in terms of assets in ranking “Interfax-100” prepared “Interfax-CEA”.