Russia's Yamal LNG receives $1.13 B in financing
Russia's Novatek-led Yamal LNG project has received its first financing tranche of $1.13 B from Russia's Sberbank and Gazprombank .
Under the agreement, signed in April, the two banks will supply Yamal LNG with loans worth a total $1.13 B.
The first tranche would help the $27-B project start producing LNG next year, as planned, the firm said in statement.
Three LNG production lines are envisaged, each with an annual capacity of 5.5 MMtpy. All output will be exported.
The first LNG train is more than 70% complete, Yevgeny Kot, director general of Yamal LNG, said in the same statement.
Yamal said its total external financing was equivalent to $18.4 B. That included loans to be provided by Chinese banks worth over $12 B.
The project has already secured Russian state funds worth 150 B roubles ($2.31 billion) from a rainy day fund.
- Freeport LNG export plant in Texas reports shutdown of liquefaction train
- TotalEnergies and Mozambique announce the full restart of the $20-B Mozambique LNG project
- RWE strengthens partnerships with ADNOC and Masdar to enhance energy security in Germany and Europe
- Five energy market trends to track in 2026, the year of the glut
- Venture Global wins LNG arbitration case brought by Spain's Repsol
Comments