VEB of Russia provides $3 bln guaranty for Yamal LNG loans

VEB of Russia provides $3 bln guaranty for Yamal LNG loans

Russian Vnesheconombank, the bank for development and foreign economic affairs, provided a guarantee for $3 billion of loans secured by the Novatek-led Yamal LNG project. 

VEB said in its statement, the guarantee would attract foreign investment in the project that is of strategic importance for Russian economy.

Novatek last week approved a series of transactions related to Yamal LNG. The project has secured over $18 billion in loans, and Novatek informed that $4 billion have already been withdrawn.

These include full NWF funding in two tranches and a recently withdrawn first tranche through the Sberbank, Gazprombank loan deal.

Shareholders in the 16.5 mtpa Yamal LNG project, that is scheduled to begin production in 2017, are Novatek with a 50.1 percent stake, CNPC and Total with 20 percent stake each and China’s Silk Road Fund with a 9.9 percent stake.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Apr 2020 >>
MTWTFSS
30 31 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 1 2 3

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >