Rosneft asks for state financial assistance for tight gas extraction

The oil company Rosneft asked the state for financial assistance for the tight gas extraction program in Eastern Siberia.

The oil company Rosneft asked the state for financial assistance for the tight gas extraction program in Eastern Siberia.

"We want to extract tight gas in Eastern Siberia and we plan to build a petrochemical plant there. If the state provides a bond-secured loan to us, I reiterate, a loan, it will be very good," Rosneft CEO Igor Sechin said in an interview with Der Schpiegel.

Sechin added that the company will begin working on the project later if it does not get state support for it.

"If we don't get it, it won't be a catastrophe to us. We will just begin working on the project later. Rosneft has no problem with the financing of current projects," Sechin said.

According to earlier reports, citing the newspaper Vedomosti, Sechin has asked the government to provide financial assistance to Rosneft, citing the sanctions imposed on the company by the U.S. The Trade and Economic Development Ministry is analyzing his request.

Read more: Rosneft agrees to purchase stake in Norwegian-British oil producer

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