Chinese banks to loan USD 12 bln to Yamal LNG
Novatek-operated Yamal LNG project is expected to receive a US$12 billion loan from Chinese banks.
Novatek’s chief executive, Leonid Mikhelson said that the loan is expected to be finalized within the next four months, Interfax reports.
The company recently signed a framework agreement with China’s Silk Road Fund on the acquisition of a 9.9% equity stake in the Yamal LNG project.
Yamal LNG project includes the construction of a liquefaction plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field. The production from the LNG project is scheduled to start in 2017.
LNG World News Staff; Image: Novatek