ADB is ready to invest $450 million into the 2nd stage of “Shah Deniz”
Edited by Rhod Mackenzie / 2014-08-27 06:02:02
The Asian Development Bank (ADB) approved granting of $450 for an implementation of the second stage of “Shah Deniz” gas condensate deposit development in the Azeri sector of the Caspian Sea.
According to a statement of ADB, the funds will be granted to an affiliate of Russian LUKOIL, LUKOIL Overseas Shah Deniz, which has 10% of participation share in the project.
The $200 million will be granted according to additional financing scheme, while the $250 million – in terms of a loan at the rate of LIBOR.
