Sanctions put Yamal LNG shareholders under strain

Sanctions imposed on Russia will have the Yamal LNG shareholders stretching to fund the project.

Even though Novatek recently stated that the sanctions will not threaten the Yamal LNG project, company’s CEO Leonid Mikhelson said the company and its shareholders will have to rely on own capital to finance the project.

“We are able to increase the share of stakeholders’ financing to stick to the timetable,” he told a conference call, following the company’s report boasting a strong Q2 net income.

LNG World News Staff, August 1, 2014; Image: Novatek