Skip to main content

Yamal LNG project to receive Chinese funding in May 2016

Published by
LNG Industry,


According to Reuters, the Yamal LNG project will receive approximately US$10 billion in loans from Chinese banks in May 2016. The Russian LNG project is expected to commence production in its first train in 2017. Overall, the project will have three trains, each of which will have a capacity of 5.5 million tpy of LNG.

Yamal LNG is owned by Novatek (50.1%), Total (20%), China National Petroleum Corp. (20%) and China’s Silk Road Fund (9.9%). The First Vice President of CNPC, Wang Zhogcai, reportedly said: “It has been almost decided, the talks with the banks are underway.”

It was also recently reported that the Yamal LNG project has agreed terms of a loan worth €3.6 billion from Gazprombank and Sberbank. The loan will have last for 16 years and have an interest rate set at six-month Euribor plus a margin of up to 4.8%.

Edited from various sources by David Rowlands

Read the article online at: https://www.lngindustry.com/liquefaction/22042016/yamal-lng-project-to-receive-chinese-funding-in-may-2016-2332/

You might also like

LNG Fuel 2020

LNG Fuel 2020

LNG Fuel 2020 is an online conference for professionals in the 'LNG as a marine fuel' sector. Since this is a completely virtual conference, you can join us from anywhere in the world, absolutely free. Register for free today »

 

Total committed to Mozambique LNG project

According to Bloomberg, Total SA has announced that it remains committed to developing the natural gas project in Mozambique that it is set to take over from Anadarko Petroleum Corp.

 
 

Embed article link: (copy the HTML code below):