Société Générale participated as both the financial advisor to the borrower and the arranger for Phase I of the Nord Stream gas pipeline project, which was developed by Gazprom, E.ON, Wintershall, GdF Suez and Gasunie to provide Russian gas to the European Union via the Baltic Sea. Financing for Phase II of the project is estimated at EUR 2,500m and should be signed at the end of 2010.

This operation is set to be the largest transaction in the oil and gas sector in Europe during 2010. This financing is for a major project that will make it possible to increase the reliability of the supply of Russian gas in Europe.