Gazprom may borrow up to 100 billion rubles for extension of gas-transportation system to provide supplies via South Stream

Gazprom considers the possibility to issue bonds to the amount of up to 100 billion rubles to finance the extension of the gas-transportation system to provide gas supplies via the South Stream gas pipeline, the company reports.

It wasn’t specified what kind of bonds were considered.

The project of the gas-transportation system extension for provision of the supplies via South Stream – this is the gas pipeline construction inside the country with pumping capacity of 63 billion cubic meters of gas per year, length of about 2.5 thousand km and with 10 compressor stations. The first stage of the project includes the construction of the pipeline from the compressor station Pisarevka to the compressor station Russkaya and connection between the compressor station Kubanskaya and the compressor station Korenovskaya. The total length is 880 km; the construction is planned to be completed in 2015. The first stage of the project provides for the reconstruction of the Petrovsko-Pisarevskaya section of the Urengoi-Novopskov gas pipeline.