Novatek, the operator of Yamal LNG project, is reportedly in talks with the Russian development bank, VEB, for a $1 billion loan to fund the project.
VEB’s chairman, Vladimir Dimitrev, earlier said the Yamal LNG project could receive a $1 billion loan.
Russian news agencies also reported him saying that VEB would co-finance the $27 billion project together with Sberbank and Gazprombank.
The planned 16.5 MTPA Yamal LNG project, is scheduled to start production in 2017.
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LNG World News Staff; Image: Novatek