According to Reuters, the Chief Executive of Sberbank, German Gref, has claimed that the Russian Yamal LNG project is on schedule and will see profits, despite the current low oil and gas situation.
Speaking to the Russian President, Vladimir Putin, Gref said: “This is the most expensive project, (it) will completely change the gas economy of the country."
Yamal LNG is a joint venture (JV) that is owned by Total and China National Petroleum Corp. (CNPC), which both own 20% each, and Novatek, which owns the remaining 60%.
Edited from various sources by David Rowlands