OREANDA-NEWS. On June 26, 2007 the Gazprom Headquarters has hosted a working meeting between Andrey Kruglov, Acting Chairman of the Gazprom Management Committee and Jun Mizoguchi, Head of Sumitomo Mitsui Banking Corporation Europe Limited (SMBC), reported the press-centre of Gazprom.

The meeting examined the current issues and bilateral cooperation prospects. The parties expressed satisfaction with the joint work aimed at attracting borrowings for Gazprom.

Andrey Kruglov and Jun Mizoguchi discussed the experience of SMBC in financing the projects in the LNG production and transportation as well as oil and gas chemicals sector, progress with attracting a project financing for the Sakhalin-2 project with participation of Japan Bank for International Cooperation. The parties also examined opportunities for cooperation within the implementation of Gazprom’s major investment projects for gas production and transmission including in terms of the project financing.

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Sumitomo Mitsui Banking Corporation was established in 2001 through merger of Sakura Bank and Sumitomo Bank and at present is one of the leading Japanese banks. According to the results of 2006 the SMBC sales revenue was at JPY 3,9 trillion, net profit was at JPY 441 billion. SMBC has 18 branches worldwide.

Sumitomo Mitsui Banking Corporation took part in several large syndicated loans taken by Gazprom.