Russian finance ministry sees no need to recapitalise Gazprom now

MOSCOW, June 18 Wed Jun 18, 2014 3:37am EDT

MOSCOW, June 18 (Reuters) - The Russian Finance Ministry currently sees no need to recapitalise Gazprom, Finance Minister Anton Siluanov said on Wednesday.

Earlier this month, President Vladimir Putin floated the idea that Gazprom could be recapitalised from Russia's foreign exchange reserves to finance the $55 billion needed to build pipelines to China.

"For the time being, we see that Chinese banks are providing loans to Gazprom ... For the time, being there are resources in order to build..." Siluanov told journalist. "Therefore there is no basis to say that Gazprom - a powerful company - is in need now." (Reporting by Lidia Kelly, writing by Jason Bush; Editing by Kevin Liffey)

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