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Novatek has sufficient funds for Yamal LNG project

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LNG Industry,

According to Reuters, Novatek has stated that it does not need to increase borrowing to fund the Yamal LNG project.

Reportedly, the private Russian gas producer has sufficient funds for investments into the project, having already invested US$22 billion in it after securing borrowing on both global and domestic markets.

Leonid Mikhelson, Novatek Chief Executive, reportedly said that the liquefaction project is set to receive a further US$6 billion in investment in 2017.

Mark Gyetvay, Novatek Chief Financial Officer, reportedly added that the total capital investment of Novatek is seen at US$689.42 million in 2017.

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