Yamal LNG receives loans worth up to €425 million

These agreements were signed with several banks, including Intesa Sanpaolo and Raiffeisen Bank International AG. Reuters reports that the annual interest rates range from six-month EURIBOR plus 1.75% to six-month EURIBOR plus 2.3%. Insurance coverage is reportedly provided by Euler Hermes – the German export credit agency – and EKN – the Swedish export credit agency.

According to Reuters, the new creditors have joined the terms of the project financing attracted earlier without increasing the overall amount.

Yamal LNG is a joint venture (JV) between Novatek, Total, CNPC and Silk Road Fund, and is involved in the construction of a 16.5 million tpy LNG plant.

Read the article online at: https://www.lngindustry.com/liquefaction/13062017/yamal-lng-receives-loans-worth-up-to-425-million/