Chinese companies to invest in Russian LNG

Russia

MOSCOW, January 5, 2016 – Chinese Insurance Investment, an investment firm comprising 40 insurance companies, has raised $6 billion towards overseas energy and infrastructure projects, according to a Reuters report.

Part of the $6 billion fund will be directed towards the Yamal LNG project in Russia, which is estimated to cost $27 billion. Slated to come on line in 2017, Yamal LNG will have three lines, each with capacity of 5.5 million tonnes a year.

A portion of the fund will also be funnelled to port construction projects overseas in Sri Lanka, Turkey and Djibouti.

The Chinese Insurance Investment was founded by 46 local corporate stakeholders, 27 insurance companies, 15 insurance asset management companies and four privately held companies.

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