24.12.2015, 01:16
Sberbank CIB and Sovcomflot Group Sign Long-Term Loan Agreement
OREANDA-NEWS. Sovcomflot Group and Sberbank CIB have signed a 14-year USD 340 mln loan agreement to finance the construction of infrastructure for marine transportation of crude oil from the Novoportovskoye field (project operator - Gazprom Neft PJSC), one of the largest oil and gas condensate fields on the Yamal Peninsula.
The project will involve year-round shipment of crude oil via Sovcomflot Group's advanced ice-class shuttle tankers through the stationary export terminal in the Gulf of Ob. Full-scale operations will be launched on the field in 2016. The deal is being carried out with the participation of Sberbank Europe AG, a subsidiary bank of Sberbank.
"We welcome Sberbank's participation as a creditor of Sovcomflot's new project and expect that this strategic partnership with the leader of Russia's banking sector will continue to develop," said Nikolay Kolesnikov, Executive Vice-President and Chief Financial Officer of PAO Sovcomflot, commenting on the deal. "This is the first time that the bank has provided long-term financing to Sovcomflot Group. Our loan agreement creates a precedent for future financing of the shipping industry by Russian credit organisations and paves the way for joint business development opportunities."
"Sovcomflot is a leading operator of advanced ultra-large ice-class vessels in the Arctic and has many years of experience in obtaining asset-backed financing on the international market," commented Dimitri Casvigny, Head of the Transport and Infrastructure Department of Sberbank CIB. "The deal to finance Sovcomflot highlights our aim to participate in initiatives of strategic importance to the national economy, and we are very pleased that we were able to support the creation of a fleet of Arctic tankers."
Sovcomflot Group is Russia's largest shipping company, and one of the global leaders in the maritime transportation of hydrocarbons, as well as the servicing and support of offshore exploration and oil & gas production. The company's fleet specialises in hydrocarbon transportation, including from regions with challenging icy conditions and includes 143 vessels with a combined deadweight of 12.4 million tonnes. A third of these vessels have a high ice class. Sovcomflot services large-scale energy projects in Russia and abroad, including Sakhalin-1, Sakhalin-2, Varandey, Prirazlomnoye, Novy Port, Yamal LNG, Tangguh and Peregrino. The company is headquartered in Saint Petersburg and has representative offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, Madrid, Singapore and Dubai.
The project will involve year-round shipment of crude oil via Sovcomflot Group's advanced ice-class shuttle tankers through the stationary export terminal in the Gulf of Ob. Full-scale operations will be launched on the field in 2016. The deal is being carried out with the participation of Sberbank Europe AG, a subsidiary bank of Sberbank.
"We welcome Sberbank's participation as a creditor of Sovcomflot's new project and expect that this strategic partnership with the leader of Russia's banking sector will continue to develop," said Nikolay Kolesnikov, Executive Vice-President and Chief Financial Officer of PAO Sovcomflot, commenting on the deal. "This is the first time that the bank has provided long-term financing to Sovcomflot Group. Our loan agreement creates a precedent for future financing of the shipping industry by Russian credit organisations and paves the way for joint business development opportunities."
"Sovcomflot is a leading operator of advanced ultra-large ice-class vessels in the Arctic and has many years of experience in obtaining asset-backed financing on the international market," commented Dimitri Casvigny, Head of the Transport and Infrastructure Department of Sberbank CIB. "The deal to finance Sovcomflot highlights our aim to participate in initiatives of strategic importance to the national economy, and we are very pleased that we were able to support the creation of a fleet of Arctic tankers."
Sovcomflot Group is Russia's largest shipping company, and one of the global leaders in the maritime transportation of hydrocarbons, as well as the servicing and support of offshore exploration and oil & gas production. The company's fleet specialises in hydrocarbon transportation, including from regions with challenging icy conditions and includes 143 vessels with a combined deadweight of 12.4 million tonnes. A third of these vessels have a high ice class. Sovcomflot services large-scale energy projects in Russia and abroad, including Sakhalin-1, Sakhalin-2, Varandey, Prirazlomnoye, Novy Port, Yamal LNG, Tangguh and Peregrino. The company is headquartered in Saint Petersburg and has representative offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, Madrid, Singapore and Dubai.
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