EU Bank Lends $200M To Lukoil For Caspian Sea Gas Project

Law360, New York (February 27, 2014, 3:01 PM EST) -- The European Bank for Reconstruction and Development said Thursday it is providing a $200 million senior loan to a subsidiary of Russian oil giant Lukoil for development of an offshore natural gas field in the Caspian Sea near Azerbaijan.

The EBRD loan is going to Lukoil Overseas Shah Deniz Ltd., a wholly owned subsidiary of Lukoil, to develop Stage 1 of the Shah Deniz gas field, located in the Caspian Sea off the coast of Azerbaijan. The field has been estimated to hold as much as...
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