Environmental activity of the LUKOIL Company in Komi

In May 2007 the LUKOIL Company signed a USD 300 million loan contract with the EBRD and other multilateral banks to finance an environmental security scheme of the LUKOIL group subsidiaries. The borrowed funds were supposed to be used for implementing environmental projects by a number of company divisions including LUKOIL Komi LLC. The loan is believed to help decrease the volume of associated gas, reduce water consumption and pollutant content in sewage, arrange waste management and reconstruct industrial pipelines.

The EBRD, as LUKOILs credit grantor, must have an impact on the environmental, social and information policy of this company to ensure that it no longer ignores Russian legislation, and ends its contemptuous attitude towards public authorities and nongovernmental organisations.