OREANDA-NEWS. Sberbank and Gazprom Neft PJSC signed a Memorandum of Intent at the St. Petersburg International Economic Forum. The document was signed by Herman Gref, CEO and Chairman of the Executive Board of Sberbank, and Alexander Dyukov, Chairman of the Management Board and CEO of Gazprom Neft PJSC.

The Memorandum sets out the parties’ intent to cooperate on a programme to acquire equipment (hereinafter “the Programme”) with an indicative financing limit of up to 35 billion roubles, and subsequent transfer of the equipment to Gazprom Neft for financial leasing. Equipment will be used to develop the infrastructure of the Novoportovskoye oil and gas condensate field in the south-eastern part of the Yamal Peninsula, which is being exploited by Gazprom Neft.
To carry out the Programme it is planned to involve specialists from Sberbank and Sberbank Leasing who are highly experienced in the field of developing financial and investment models, structuring and organising the financing of marine equipment under leasing deals.

The parties agreed to by the end of 2016 set out the conditions necessary for working on the Programme, including agreeing on optimal conditions for implementing the lease deal part of the Programme.

Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.

Gazprom Neft is a vertically integrated oil company primarily engaged in oil and gas exploration and production, refining, and the production and sale of petroleum products.

The structure of Gazprom Neft includes more than 70 oil-producing, refining and marketing companies in Russia, the CIS and further abroad. As of the end of 2015, Gazprom Neft was number one in terms of growth of hydrocarbon extraction among Russian oil companies. Gazprom Neft is one of the three leading companies in terms of oil refining volume, and is fourth in terms of extraction. Gazprom Neft operates in Russia’s largest oil and gas regions: the Khanty-Mansi Autonomous District and Yamalo-Nenets Autonomous District, as well as the Tomsk, Omsk and Orenburg Regions. The company’s primary refining capacity is located in the Omsk, Moscow and Yaroslavl Regions, and also in Serbia. Gazprom Neft also carries out international oil production projects – in Iraq, Venezuela and other countries.

Gazprom Neft exports to more than 50 countries worldwide. Its products are sold throughout Russia and abroad via an extensive network of its own sales companies.