Loans signed for Yamal LNG
Export-Import Bank of China and the China Development Bank have provided project financing for the Yamal LNG liquefied natural gas project, which is located in northern Russia.
To be more specific, OAO NOVATEK has signed loan agreements worth €9.3 billion (US$10.7 billion) and Y9.8 billion (US$1.5 billion) with the Export-Import Bank of China and the China Development Bank respectively. The total project investment is estimated at US$27 million.
The project is co-owned by Total SA, China National Petroleum and Silk Road Fund.
Yamal LNG project envisages the construction of an LNG plant based on the feedstock resources of the South-Tambeyskoye field. According to the PRMS reserve standards, the proven and probable reserves of the South-Tambeyskoye field as of 31 December 2014 were appraised at 926 billion cubic meters of natural gas. The project is currently at the active construction stage.
The planned LNG plant will have three trains with total capacity of 16.5 million tones of liquefied natural gas per year. First train will be operational by the end of 2017 and the full capacity will be achieved by 2021. In addition to the LNG plant, the project includes construction of a seaport and airport as also a 282 MW power plant.
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April 21, 2016
NOVATEK secures line of credit for Yamal LNG project
OAO NOVATEK, Russia's largest independent natural gas producer, has signed a loan agreement with Sberbank and Gazprombank. The loan will be used as part of the financing package for the company’s liquefied natural gas project Yamal LNG, which is located in northern Russia. Read more -
April 06, 2016
NOVATEK and China's Silk Road Fund Conclude Selling 9.9% Stake in Yamal LNG
NOVATEK has announced the closing of a transaction to sell a 9.9% equity stake in the Yamal LNG project to China’s Silk Road Fund (SRF) for a payment amounting to €1,087 million (US$1,237 million). Read more -
March 29, 2016
JBIC signs loan for Sakhalin-I Odoptu Field Stage-2 Development Project in Russia
The Japan Bank for International Cooperation (JBIC) has recently signed a loan agreement amounting up to US$450 million with Sakhalin Oil and Gas Development (SODECO). Read more -
March 08, 2016
BRICS new bank to finance solar projects
The New Development Bank established by the BRICS states, Brazil, Russia, India, China and South Africa, plans to lend about US$2 billion to finance energy solar projects in India. Read more -
January 13, 2016
NOVATEK sells stake in Yamal LNG to China's Silk Road Fund
NOVATEK has announced the signing of binding definitive agreements as part of a transaction for selling an equity stake in the Yamal LNG project to China’s Silk Road Fund (SRF). Read more
