The loan has a seven-year term on this year's Gasprom borrowing programme, at a LIBOR +4% interest rate.
The gas mammoth intends to borrow another $200 or 300 million before the year's end-it still stays 14 billion roubles, roughly $500 million, behind the programme schedule, added Yatsenko.
Petr Bagayev, financial market department head, addressed the same conference to announce Gasprom blueprints to enhance gas exports to Western Europe. Present exports make an annual 140 billion cubic metres. The next five years will send them 15-25% up. European Union countries currently account for two thirds of Gasprom export revenues, with 62% of total gas exports and 67% of resultant revenues last year. The upward trend will persist.
Contract gas exports to Europe are expected, by 2008, at a threshold 147 billion cu m and a ceiling 188. The Gasprom now accounts for 28% of European gas supplies, and its share will increase to 30% by 2020, say company experts-an opinion shared by certain analysts outside it.
