JBIC may finance Novatek’s 2nd LNG export project

Yamal LNG (Image courtesy of Novatek)

Japan Bank for International Cooperation (JBIC) is considering whether to provide financing for Novatek’s second LNG export project in the Russian Arctic.

JBIC has already provided 200 million euros ($238 million) for Novatek’s giant Yamal LNG project, that is expected to be launched by the end of this year.

JBIC Chief Executive Tadashi Maeda was quoted by Reuters on Thursday as saying that participation of Japanese companies – direct or in the form of LNG buyers from the project – would be a condition.

“Its conditional of Japanese companies’ participation in the project,” Maeda said.

He added that the bank would not provide financing if there were no Japanese companies involved, according to the report.

Besides its $27 billion Yamal LNG project, Novatek is also planning to build its second LNG export project to be located on the Gydan peninsula.

Novatek has already started the design works on the Arctic LNG-2 project – expected to have the same output as Yamal or about 16.5 million tonnes per year.

Production at the company’s second LNG export project is due to start in 2022-2023.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018…

read more >

CWC Japan LNG & Gas Summit

The inaugural CWC Japan LNG & Gas Summit, with participation and support from METI, JERA, Tokyo Gas and IEEJ, is the dedicated platform for international suppliers…

read more >

Asia Pacific Maritime and Offshore Exhibition 2018

7 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia…

read more >

CWC 2nd Papua New Guinea Petroleum & Energy Summit

The 2nd CWC Papua New Guinea Petroleum and Energy Summit is held under the patronage of the Prime Minister of Papua New Guinea…

read more >