Gazprom Raises €900 Million in Investment Loans

Several news reporters have picked up stories from Moscow regarding Russian gas giant Gazprom citing data from company files showing that the state-owned company has received backing for two loans worth EUR €925 million from Citibank and Mitsubishi Financial Group.

Gazprom raised the shareholder investment in the form of two four-year loans: EUR €425 million from Citibank and EUR €500 million from Mitsubishi, last year in January and December respectively. The company has hit trouble after a global drop in oil prices; and being asked to halt production of gas.