LNG

Aug 6 (LNG) - Gazprom Marketing and Trading of Russia said it raised a revolving credit of $500 million for use by its energy and LNG trading divisions based in London and Singapore. "The facility was launched at $350M and was subsequently increased to $500M after being significantly oversubscribed with commitments from 17 international banks from around the world including European, Asian and American banks," Gazprom said. Alexander Kim, Executive Director of Finance for the Russian natural gas giant's trading unit, said: "The company is building upon its successes by continuing to develop its strong position in the market, with the ability to secure this facility representing a vote of confidence in the company's strategy and future growth plans."