OREANDA-NEWS. April 24, 2008. Bank of Moscow has signed an agreement to extend a loan to ZAO (closed stock company) Uralsevergaz, a member of ITERA International Group of Companies, to the amount of 400 million Roubles.

The duration of the agreement is 18 months.

ZAO Uralsevergaz totally meets the needs of Sverdlovsk Area in natural gas with its annual requirement of 18.9 billion cubic metres of gas as reported last year.

"It is the first credit product offered by the Bank to ZAO Uralsevergaz ", — says Sergey Matyukh, the General Director of the Bank’s Corporate and Investment Business Department. — "We have been intensively working with ITERA International Group of Companies since 2000. Last year only Bank of Moscow extended to the Group’s head company (NGK ITERA LLC) a total of 3.7 billion Roubles".

ITERA Group details:

ITERA Group was organised in 1992 and since 1994 has been involved in the sales of natural gas. ITERA is the only private gas company in the CIS and Baltic countries that has experience in export supplies of natural gas.

The International Group of Companies has about 150 representative offices, branches and daughter companies in Russia, the CIS and Baltic countries, Europe and the USA. Since 1998 ITERA has been developing its own gas production in Russia, Yamalo-Nenetsky District in Western Siberia.