According to Reuters, Russia’s Yamal LNG project has received its first financing tranche from Sberbank and Gazprombank. The €1 billion tranche is reportedly just part of a loan worth a total of €3.6 billion, which was agreed in April 2016.
In late April, it was reported by Reuters that the Yamal LNG debt financing was at approximately US$18 billion – US$19 billion. This includes loans for approximately US$10 billion from Chinese banks.
The project, which is led by Novatek, is expected to commence LNG production in 2017.
Edited from various sources by David Rowlands
Read the article online at: https://www.lngindustry.com/liquefaction/10062016/yamal-lng-project-receives-first-financing-tranche-from-russian-banks-2583/