According to Reuters, Yamal LNG has signed agreements with a number of European banks on 14-year credit line facilities for the total amount of 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/
This webinar will walk the audience through a methodology for developing risk-adjusted plans, leveraging remote collaboration techniques for disparate and socially distanced teams. This next-generation risk management approach is already proving itself on numerous oil and gas CAPEX projects. Find out why InEight expects the trend of risk-adjusted scheduling adoption to continue. Register for free today »