Yamal LNG to get state fund’s backing

Russia's National Wealth Fund

Yamal LNG could be receiving a 150 billion roubles of state support from Russia’s National Wealth Fund in the first quarter of 2015. 

Interfax news agency quoted Deputy Energy Minister Nikolai Podguzov saying that Rosneft asked for 250 billion roubles from the fund for its four projects.

There are more companies looking for state’s fund support as the sanctions imposed on Russia have largely denied them access to foreign investment.

Yamal LNG project will have a 16.5 mtpa capacity and the three process trains with a 5.5. mtpa capacity each are planned for commissioning in 2016, 2017 and 2018.

Shareholders in the Yamal LNG are Russia’s Novatek, France’s Total and China’s CNPC.

1 Russian ruble = 0.017712 USD

LNG World News Staff; Image: Novatek

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