RIA Novosti: Gazprom Ready to Do Without External Funding of South Stream
Russian gas giant Gazprom is going to attract external funds into South Stream project but ready to manage without it under unfavorable conditions, the company’s deputy CEO Alexander Medvedev told reporters Tuesday.
"Project financing was successfully realized both in Nord Stream and Sakhalin-2 projects and I think that these tools will be used in South Stream as well. If you ask me if I’m ready for the worst case scenario, I'd say 'Yes, we are ready,'" Medvedev said.
On May 23, Oleg Aksyutin, head of South Stream Transport, the project operator, said that funding for the maritime section of the South Stream gas pipeline projects are to be determined by the end of the year. The shareholders will invest 30 percent of total cost of the project, the rest 70 percent will be paid thanks to loans, according to him.