Yamal LNG to get NWF support

Russia’s sanction-hit companies such as Novatek might get government support through the National Wealth Fund.

A minister said that Novatek might receive funds for its Yamal LNG project after the country’s second gas producer, submitted a request for support to the Economy Ministry, in the amount of 100 billion to 150 billion roubles ($2.6-3.9 billion), according to Reuters. The government plan is to buy bonds issued by sanction-hit companies.

Deputy Economy Minister, Nokolai Podguzov said the conclusion will be given in October and the ministry might move towards granting the NWF funds by the end of the year.

LNG World News Staff, September 22, 2014; Image: Novatek