China Development Bank Corp., Vnesheconombank (VEB), Gazprombank and Yamal LNG have signed a Memorandum on project financing for the Yamal LNG project.
The parties will attempt to close the project financing in Q4 2014 on the best possible terms for the Yamal LNG project.
China Development Bank Corp. will be the general coordinator for the Chinese financial institutions and will use its best efforts to secure financing from the Chinese banks for a tenor of up to 15 years.
In addition, VEB and Gazprombank confirmed their intent to participate in the financing of the LNG project.
Adapted from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquefaction/20052014/yamal_lng_receives_project_financing_626/