Press release

The IBC Working Committee “Law, banking and finance” held the online meeting

On 9 April 2021 the IBC Working Committee “Law, banking and finance” held the online meeting on “Methods of overcoming the “perfect storm” in the finances of Gas industry without increasing the company’s consolidated debt”.

The meeting was chaired by:
Dr. F. Sadygov, Deputy Chairman of the Management Committee, PJSC Gazprom, Chairman of the Committee.

Welcoming address on behalf of the host of the meeting was delivered by
Mr. Régis Monfront, Chairman of the Board of Directors Credit Agricole CIB AO, Russia.

The meeting was moderated by:
Mr. Oleg Shaposhnikov, Member of the Management Board, Managing Director, Russian Corporate Coverage, Credit Agricole CIB AO, Russia.

More than 100 attendees from 40 companies took part in the committee meeting.
During the meeting following speakers delivered profound reports:

  • Mr. Denis Shulakov, Gazprombank (Joint Stock Company)
    «How global majors passed through 2020, and themes for 2021 and beyond»
  • Mr. Nicolas Chapin & Mr. Roneil Thadani, Credit Agricole CIB
    «Raising third party funding from the monetization of existing infrastructure assets from the perspective of Banks and Rating Agencies»
  • Mr. Mikhail Frolov & Ms. Elena Asadova, PwC in Russia
    «Risk factors for increasing consolidated debt under IFRS»
  • Mr. Alexey Finikov, PJSC Gazprom
    «The analysis of off-balance sheet exposures and risk allocations in Gazprom limited recourse financings»
  • Mr. Dzavid Salihovic & Mr. Matthias Janssen, UniCredit Bank
    «Raising funding in capital markets with a limited impact on debt ratios – Hybrid, ECM financing instruments»
  • Mr. Stefan Budzinski & Mr. Rudolph Wesseln, SMBC
    «Project finance and Leasing: different funding methods or a joint approach to support clients to navigate in disruptive times?»

Participants of the meeting shared their professional experience and exchanged opinions on most pressing and significant business issues oil and gas companies face today due to current changes taking place in global economy and, particularly, in energy sector.

Apart from that, the meeting attendees discussed various tools to raise debt financing at time of increasing geopolitical risks, analyzed state and prospects of market development for project and lease finance, and considered advantages of perpetual bonds.

Throughout the meeting participants were able to address their questions to speakers via live chat. The answers have been provided by the end of the session.

Results of a survey conducted among the participants of the meeting have been presented upon the completion of the session and found as follows:

  • 98% of respondents
    believe or are inclined to believe that ESG-approach (responsible investment) will become an important factor to attract funding in the current decade;
  • 72% of respondents
    are ready to attend the meeting of the Committee in Singapore in September 2021in case epidemiological situation improves;
  • 95% of respondents
    were satisfied with quality and visibility of the delivered reports;
  • 97% of respondents
    expressed their consent that the knowledge and information shared during the meeting will be applied in work of the companies the respondents represented at the meeting.