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 The project has secured over $18 billion in loans, and Novatek informed that $4 billion have already been withdrawn.

These include full NWF funding in two tranches and a recently withdrawn first tranche through the Sberbank, Gazprombank loan deal.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

<< Sep 2019 >>
MTWTFSS
26 27 28 29 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 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >