Sovcomflot Group and Sberbank CIB sign $340 million long-term credit facility agreement

(Your Oil & Gas News, Aberdeen, 22 December 2015) Sovcomflot Group and Sberbank CIB  have signed a 14-year $340 million credit facility agreement to finance the construction of three Arctic shuttle tankers for the Novy Port project  (project operator: Gazprom Neft). Commenting on the transaction, Nikolay Kolesnikov, Chief Financial Officer of Sovcomflot, said: “With this new financing Sovcomflot will have raised a total of over USD 900 million of long-term debt finance from commercial banks and export credit agencies in the course of 2015.”