After being listed on OFAC’s Sectoral Sanctions Identification List, Russia’s natural gas producer, Novatek, issued a statement saying the sanctions do not threaten the company’s projects.
Novatek’s financial position is stable and the cash flows are sufficient to fulfill key strategic plans, continuing the large-scale projects implementation, it said.
The company, which owns a controlling stake in Yamal LNG, said it will take all necessary measures to secure project financing and implement the LNG project as scheduled.
LNG World News Staff, July 18, 2014; Image: Novatek