The project is not a direct burden on the Polish state.
Credits and loans for the project will be drawn and repaid by EuRoPol GAZ s.a.

The financing of the first line of the Polish section of the Yamal-Europe pipeline has been provided under 13 separate agreements: credit agreements, loan agreements and the pipe delivery agreement (merchant credit facility).
The first commercial financing obtained by EuRoPol GAZ was provided by Bank Wspó³pracy Europejskiej under the agreement concluded on November 20, 1995 and the largest amount of financing was provided by Gazprombank (US$ 1,002.8 million). The total amount of financing obtained by EuRoPol GAZ under the 13 agreements came to US$ 1.4 billion.
One additional source of revenues have been the gas transport charges collected since November 1999. For example, the financial plan for 2000 stipulated that 61% of the core project cost will be financed and 39% will be funded from core business revenues. The project had relied fully on external financing in the preceding years. EuRoPol GAZ has begun to generate revenues from gas transport charges and it can reinvest these resources to support its future development.

 The Company may utilise its revenues in three areas:

  • Operating costs, including the operation and maintenance cost of the pipeline;
  • Repayment of debt up to amounts due in any given year;
  • Continued construction (in addition to external financing) of compressor stations, SCADA and the control unit, including the Company HO.

The construction of three new compressor stations has been suspended as a result of frozen disbursements from the CB Gazprombank credit (the amount requested for 2000 was US$ 265 million but only US$ 56.3 million was actually drawn). Moreover, the actual budget for maintaining the project was higher than expected.
EuRoPol GAZ has not yet used any of the US$ 350 million of government guarantees set out in the Intergovernmental Agreement for the construction of the first line of the pipeline.

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