October 18, 2017 / 8:14 AM / 3 months ago

Intesa says looking at Russia's Arctic LNG financing - RIA

MOSCOW, Oct 18 (Reuters) - Italian bank Intesa Sanpaolo is interested in Russian privatisation and may finance some large-scale projects, such as Arctic LNG, RIA news agency quoted the head of Intesa’s Russian business, Antonio Fallico, as saying on Wednesday.

Fallico said Intesa was keen on further participation in Russia’s wider privatisation and would look into financing some energy projects in the country, such as Novatek-led Arctic LNG, the RIA report said.

The project in Russia’s Arctic region is set to start producing liquefied natural gas in 2022 - 2023.

“Yes, we are in discussion, I don’t want to provide details,” Fallico was quoted as saying by RIA with reference to Intesa’s possible participation in the project.

He also confirmed Intesa’s intentions about participation in fundraising for Rosneft and further cooperation with the Kremlin-controlled company.

Intesa acted as consultant for a 10.5 billion euro ($12.4 billion) deal to sell a fifth of Russian energy giant Rosneft to a Qatari fund and commodities trader Glencore in December, also providing 5.2 billion euros in financing.

Fallico said that Intesa had also been looking into options for financing the Nord Stream-2 undersea gas pipeline, designed by Gazprom.

“It is too early to speak about the conditions,” he said in response to a question about possible ways of participation in Nord Stream-2.

“We have to understand what we can and what we cannot in the light of new American sanctions,” Fallico was quoted as saying by RIA.

$1 = 0.8501 euros Reporting by Vladimir Soldatkin. Editing by Jane Merriman

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