VEB Bank provides $741 million loan for Gazprom’s LNG project

VEB Bank will provide a RUB 55 billion ($741 million) loan for Gazprom’s liquified natural gas project near the Baltic Sea port of Ust-Luga. The project consists of building a gas processing complex with an annual capacity of 45 billion cubic metres and an LNG plant with an annual capacity of 13 million tons. RusKhimAlyans, the joint venture between the state gas company Gazprom and its Russian partner RusGazDobycha, plans to use the funds from VEB Bank to prepare the project documentation, for advance payments and for other costs.