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Yamal LNG project receives first financing tranche from Russian banks

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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

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