Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Gazprom Gets $2Bln

MOSCOW -- A group of Italian banks will provide Gazprom with a loan of up to $2 billion to finance the first gas pipeline running under the Black Sea to Turkey, Gazprom's deputy head said Wednesday.

Pyotr Rodionov said Gazprom had signed an agreement with the banks, which he declined to identify. The project financing will be guaranteed by export credit agencies and backed by revenues from gas supplies to Italy, he said.