Gazprom has agreed to borrow €2bn from Bank of China in its largest ever bilateral loan as it braces for export gas prices to fall to a 10-year low.
The Russian state-controlled gas group agreed the five-year loan — one of the largest ever from a Chinese lender to a Russian company — with Bank of China’s London branch at a meeting in Shanghai on Thursday, it said in a statement.
“For Gazprom this is the largest deal in terms of the amount of financing attracted directly from one financial institution and the first bilateral loan facility agreement with a Chinese bank,” the Russian company said.
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