Company news in July 2004 | |||
Baikal Bank of the RF Savings Bank and East Siberian Gas Company OJSC Conclude a Cooperation Agreement
Baikal Bank of the RF Savings Bank and East Siberian Gas Company OJSC (ESGC) concluded a cooperation agreement, announced the PR Sector of Baikal Bank of the RF Savings Bank on July 2. According to the agreement, "the parties intend to develop long-term partnerships and to support each other in implementation of joint programs and projects." At present, Baikal Bank deals with the plastic card salary payment project and comprehensive cash settlements for ESGC. In the future, the plan is to consider the possibilities of short-term, mid-term, and long-term investment lending, project finance, and scaling up transactions with the bank''s securities. Teamwork between ESGC and Baikal Bank develops against the background of earlier signed TNK-BP''s agreements with the RF Savings Bank for cooperation in resource project funding. According to Mr. Alexey Sobol, ESGC''s General Manager, "the project to gasify the Irkutsk Region on the basis of the Kovykta gas and condensate field is evolving, and our cooperation with the bank will be specified in the future." ESGC, the operator of the Irkutsk Region Gasification Project, was founded in March 2004. Its shareholders are the Irkutsk Regional Administration and TNK-BP, holding 50% in the company each.
Source: PRIME TASS