According to Reuters, the Chief Executive of Total, Patrick Pouyanne, has announced that the financing of the US$27 billion Yamal LNG project in Russia is on schedule and on budget. The Yamal LNG project is a joint venture (JV) operation amongst China National Oil & Gas Exploration and Development Corp. (CNODC), which holds 20%, Total, which also holds 20%, and Novatek, which holds the remaining 60%. It is set to produce 16.5 million tpy of LNG.
Pouyanne reportedly stated: “Various banks are responding to bids and all is on track.”
This is the latest development in the Yamal LNG project, which, in September 2015, saw Dynagas charter nine LNG carriers for the operation.
Edited from various sources by David Rowlands
Read the article online at: https://www.lngindustry.com/liquefaction/16102015/yamal-lng-financing-is-on-track-1478/