The NOVATEK shareholders to discuss the financing of Yamal LNG and Gazprombank

The NOVATEK shareholders to discuss the financing of Yamal LNG and Gazprombank


The annual meeting of shareholders of the Company will be held on April 22. It is planned to discuss the issue of attracting financing for the project “Yamal LNG” from Sberbank and Gazprombank in the total amount of 3.6 billion euros.

MOSCOW, 22 Mar. The NOVATEK shareholders at the annual meeting on April 22 will consider financing for the project “Yamal LNG” from Sberbank and Gazprombank in the total amount of 3.6 billion euros, said the press service of NOVATEK.

“At the annual meeting of shareholders is scheduled to consider financing from Gazprombank and Sberbank. Total volume of 3.6 billion euros for a period of up to 16 floating rate linked to EURIBOR,” — said the Agency interlocutor.

Currently, the shareholders of “Yamal LNG” are in the final stages of project financing.

Previously it was assumed that the loan of Gazprombank and Sberbank will amount to about $ 4 billion, the head of NOVATEK Leonid Mikhelson in January 2016, said that under the project Finance facility is expected to receive funds from Chinese banks and other European financial institutions. Total project funding was estimated to $ 20 billion.

The project “Yamal LNG” involves the construction of a liquefied natural gas (LNG) with a capacity of 16.5 million tons of LNG per year on the resource base of Yuzhno-tambeyskoe Deposit. Proven and probable reserves of gas as of 31 December 2015 according to PRMS standards are 926 billion cubic meters. The total project cost and 26.9 billion. The project shareholders are OAO “NOVATEK” — 50,1%, Total 20%, CNPC — 20%, Fund of the silk Road — 9,9%.