Yamal LNG receives first loan tranche from Russian banks

Yamal LNG receives first loan tranche from Russian banks

Novatek-operated Yamal LNG project on Friday said it has received the first tranche of financing in the amount of €1 billion provided by Sberbank and Gazprombank under a loan agreement signed in April 2016. 

The financing from the Russian banks is part of the project finance package totaling the equivalent of US$18.4 billion, which also includes financing from the National Welfare Fund of Russia and a consortium of Chinese banks, according to a Yamal LNG statement.

Yamal LNG General Director, Evgeniy Kot informed that the first LNG train, which is scheduled to start production in 2017, passed the 70 percent completion stage.

“We recently finalized the hydro-testing of the first cryogenic LNG tank, and the largest modules for the first LNG train have been shipped from the module fabrication yards,” Kot said, adding that the project’s implementation is proceeding according to schedule.

Once completed the Yamal LNG project will have the capacity to produce 16.5 mtpa of LNG.

Shareholders in the project include 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


<< Dec 2019 >>
25 26 27 28 29 30 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 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >