Lukoil said that the majority of the loan will be used for the environmental purposes of a number of its subsidiaries, including Lukoil-Komi and Lukoil-Perm. It is also possible that part of the loan will be used to finance some of the company’s international environment projects in over 30 countries worldwide.
Lukoil said that it will construct new sites and renovate existing operating units at its oil production plants and refineries in order to reduce air pollution and wastewater contamination. The company also expects its gas flaring and water consumption to drop and its waste management to increase.
Lukoil added that ample resources will be allocated for field pipeline reconstruction purposes.
We are grateful to the European Bank for Reconstruction and Development for cooperation and we are sure that the attracted loan will be used efficiently to make a positive impact on the environment in the regions of our presence, said Vagit Alekperov, Lukoil’s president.
Lukoil said that the attracted loan is the most extended long-term unsecured syndicated loan ever obtained by a private Russian company.
