Gazprom to continue work with Chinese banks - official

Gazprom to continue work with Chinese banks - official
Russian energy company Gazprom will continue cooperating with Chinese financial institutions, according to Gazprom’s Deputy Chairman Andrey Kruglov.

"Gazprom intends to continue cooperation with our Chinese partners, including in terms of agreements in project financing," Kruglov said.

In April, with active participation of Asian banks, Gazprom attracted a club-deal credit worth $500 million. Later, the company received another $1.5 billion club-deal loan from five major Chinese banks.

Asian financial markets are of great interest to Gazprom as cooperation with them allows the Russian company to diversify its investor base and funding sources.

"Last year we listed on the Singapore Stock Exchange, and are now considering various options for expanding our presence on the Asian stock markets,” Kruglov said.

READ MORE: Gazprom to list on Asia’s second biggest stock market

In February, China’s Dagong rating agency gave Gazprom the highest AAA credit rating with a long-term stable outlook despite Russian rating downgrades from leading Western agencies. Dagong said the sanctions imposed by the US and the EU against Russia will have little effect on Gazprom’s creditworthiness.

A high credit rating from Dagong allows Gazprom to place shares in Hong Kong, which the company has been planning lately.