Yamal LNG project receives first financing tranche from Russian banks
Published by David Rowlands,
Editor
LNG Industry,
According to Reuters, Russia’s Yamal LNG project has received its first financing tranche from Sberbank and Gazprombank. The €1 billion tranche is reportedly just part of a loan worth a total of €3.6 billion, which was agreed in April 2016.
In late April, it was reported by Reuters that the Yamal LNG debt financing was at approximately US$18 billion – US$19 billion. This includes loans for approximately US$10 billion from Chinese banks.
The project, which is led by Novatek, is expected to commence LNG production in 2017.
Edited from various sources by David Rowlands
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/10062016/yamal-lng-project-receives-first-financing-tranche-from-russian-banks-2583/
You might also like
IEEFA: Tidal wave of new LNG supply to flood market amid demand uncertainty
Sluggish demand growth for LNG, combined with a record increase in global export capacity through 2028, will likely thrust markets into an extended period of oversupply, according to the latest Global LNG Outlook from the Institute for Energy Economics and Financial Analysis.