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Yamal LNG receives €780 million in loans from Chinese banks

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LNG Industry,

According to Reuters, the Yamal LNG project received approximately €780 million in financing from China Development Bank and Export-Import Bank of China in July 2016.

Reuters reports that 15-year loan deals of €9.3 billion and 9.8 billion yuan (US$1.48 billion) were signed by the two Chinese parties in late April 2016, with the first €450 million portion provided in July 2016.

The Yamal LNG project is led by Novatek, and located in Northern Russia. Novatek holds a 50.1% stake in the project, whilst Total holds 20%, China National Petroleum Corp. also holds 20%, and China’s Silk Road Fund holds 9.9%.

Edited from various sources by David Rowlands

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