Gazprom Short Of Money

Russian biggest natural gas producer Gazprom plans to borrow 110 bln roubles in 2005, and 90 bln in 2006. This was announced by the company?s management at a meeting with investors.

Gazprom will borrow through credits, bonds, and eurobonds. Ruble debt will account for 50% of the overall amount, and foreign currency debt - for another 50%.

As previously reported, Gazprom planned to place 2 eurobond issues worth USD900 mln and USD1 bln in 2005. The eurobond terms and launch time have not been set yet, Gazeta.ru reported.