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Germany became AZERBAIJAN’s guarantor for BILLION DOLLAR LOAN

This article was published on 06 March 2018 at 11:22 PM. It has 129 views so far.

To ensure the supply of natural gas from Azerbaijan, the German government intends to provide a loan guarantee for a large loan of an Azerbaijani state enterprise in a German bank. As the German media write, this is stated in a letter from the Parliamentary State Secretary at the German Ministry of Finance, Jens Spahn (CDU) to the Chairman of the Budget Committee of the Bundestag, Peter Boehringer.

The amount of the loan is $ 1.5 billion.

‘These gas deliveries are intended to make a significant contribution to securing the supply of gas to Europe and Germany,’ says the letter.

In 2013, the German energy giant Eon had secured an extensive gas supply contract with Azerbaijan. According to the contract, Eon will receive 1.45 billion cubic metres of natural gas each year between 2020 and 2044 via the Southern Gas Corridor.