OREANDA-NEWS On 08 October was announced, that the international commercial banks consortium released the USD 1.4 bln credit to Sakhalin Energy to fund the second stage of the Sakhalin-2 project, the company informed.

Thus, the total funding reached USD 6.7bn.

The loan is backed by Nippon Export and Investment Insurance (NEXI). Sakhalin Energy Investment Company Ltd. is an investor and operator of Sakhalin-2 project. The holders involve Gazprom (50%+1), Royal Dutch Shell Plc. (27.5%-1), Mitsui & Co. Ltd. (12.5%) and Mitsubishi Corp. (10%).

Within the project two oil fields in the Sakhalin shelf are under development.