The successful cooperation of Shakhalin-2 shareholders led by OJSC “Gazprom”, Sakhalin Energy Investment Company Ltd., a group of advising banks and creditors in Tokyo, Japan,  resulted in signing of a loan documentation package for $5,3 billion. OJSC “Gazprom” in this project was represented by deputy chairman of the managing board, Andrey Kruglov, who is also  head of the Finance and Economics Department.  
The senior lender in Sakhalin-2 project is the Japan Bank for International Cooperation that provided financing totaling $3,7 billion. The remaining portion of the loan to the amount of $1,6 billion was granted by a consortium of major commercial banks of Japan and Western Europe.

Information:

The structure and amount of the project financing within the Sakhalin-2 investment program were previously agreed upon during talks with lending banks in mid-2006.
At that time, the transaction terms included participation of a number of national and international financial institutions and commercial banks. The total financing was set by the parties at $6,7 billion.  
In April 2007, OJSC “Gazprom” acquired the controlling stake in Sakhalin Energy Investment Company Ltd.  The transaction entailed the following changes in the shareholders’ capital structure:  OJSC “Gazprom” owns 50 percent + one share, Shell holds a  27,5 percent stake,  Mitsui - 12,5 percent, Mitsubishi has 10 percent of the company’s shares.
Following the changes in the  shareholders’ capital structure of Sakhalin Energy Investment Company Ltd., talks with the banks were resumed, and the project creditor structure also undergone some changes. Further cooperation of the project shareholders – majority shareholder OJSC “Gazprom”, Shell, Mitsui, Mitsubishi, and Sakhalin Energy Investment Company Ltd., the group of advising banks and creditors allowed to raise financing of $5,3 billion.   

Information Office of OJSC “Gazprom”