Novatek secures Yamal LNG financing
Russia “[These] Agreements with the Chinese banks allow [us] to complete the project without additional funding by the shareholders,” Evgeniy Kot, Yamal LNG’s general director, said. The credit facility with the Export-Import Bank of China will run for a period of 15 years.
In March, China’s Silk Road Fund acquired a 9.9% stake in the venture, helping Yamal LNG and Novatek mitigate some of the pressures related to Western sanctions. The deal was first announced in September 2015.
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Image credit Novatek
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