NOVATEK: Yamal LNG keeps plans to attract up to $20 billion by December

NOVATEK: Yamal LNG keeps plans to attract up to $20 billion by December


Shareholders of Yamal LNG are negotiating with international export credit agencies, Chinese and Russian banks on the project financing of more than $ 20 billion.

VERONA, 22 Oct. The shareholders of “Yamal LNG” implements the project on construction of plant on production of liquefied natural gas in Yamal, retain the plans of attracting financing totaling up to $ 20 billion by the end of this year, told reporters the head of the Company (which owns 60% in the project) Leonid Mikhelson.

Shareholders of Yamal LNG are negotiating with international export credit agencies, Chinese and Russian banks on the project financing of more than $ 20 billion. Most of the money NOVATEK expects to attract in China.

“Save (plans of attracting financing — ed.) until the end of the year,” Mikhelson said, responding to a question. “Total volume (Finance – ed.)”, he said in response to the question of whether this amount to be $ 20 billion.

The head and co-owner of NOVATEK added that the information about delaying the talks on raising Finance does not have any Foundation. “This is a rumor”, he said on the sidelines of the Fourth Eurasian forum.

The shareholders of “Yamal LNG” NOVATEK are with a share of 60%, and also China’s CNPC and France’s Total — 20%. At the beginning of September NOVATEK and the Chinese silk road Fund signed a framework agreement to acquire a Chinese investment Fund with a 9.9% stake in “Yamal LNG”.

The fourth Eurasian forum held jointly by the Fund forum and the Association “conoscere Eurasia”, the interaction between them was sealed with the signing of a Memorandum of cooperation on 20 January 2015. St. Petersburg international economic forum since 2012 has been holding international sessions and supporting international business events in key regions of the world, including Eurasian forum.