VTB granted ECA covered financing to Gazprom

13 june 2017

VTB Bank (Austria) AG (“VTBA”) and PJSC Gazprom (“Gazprom”)  have successfully closed a 10 year Facility for EUR 300 mln covered by OeKB, Austrian government’s Export Credit Agency (“ECA”).

Yuri Soloviev, First Deputy President and Chairman of VTB Bank Management Board, noted: «In current economic situation VTB Group continues to increase volumes of trade and export finance support and provides our Clients with relevant and demanded business solutions. We are pleased to execute this deal with Gazprom. We hope that the deal will help the world’s largest gas producer to proceed with further development of related business. We believe that this transaction will strengthen our beneficial relations with Gazprom and allow to expand the boundaries of cooperation in future».

In 2016 VTB’s strong position in Europe was acknowledged by the world’s leading magazine in trade finance “Global Trade Review” as the “Best trade finance bank in Central Europe and Eastern Europe”.

For reference:

Gazprom is a global energy company. The company is engaged in geological exploration, extraction, transportation, storage, processing and sale of gas (including motor fuel), gas and oil condensate, as well as production and sale of thermal and electric power.

Gazprom holds the world’s largest natural gas reserves and is the world’s leader in gas production. Gazprom supplies gas to Russian consumers and to more than 30 countries abroad. It is the largest exporter of natural gas to Europe. Gazprom is one of the leading producers of oil and electric power in Russia, and is the world’s leader in thermal power generation.