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Overall Yamal LNG debt financing estimated at US$18 billion – US$19 billion

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LNG Industry,

According to Reuters, the total debt financing of the Yamal LNG project is estimated at approximately US$18 billion – US$19 billion. The project, which is led by Novatek, is expected to commence production of LNG in 2017.

Leonid Mikhelson, the CEO of Novatek, reportedly said that this figure includes the loans that have already been secured. He also added that the project would undoubtedly receive additional financing shortly.

Reuters recently reported that the Yamal LNG project would receive approximately US$10 billion from Chinese banks in May 2016, and that it had agreed terms for a 16-year loan worth €3.6 billion from Gazprombank and Sberbank.

Edited from various sources by David Rowlands

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