Yamal LNG to get VEB’s support

Novatek’s Yamal LNG project is being developed without delays, according to the company’s CFO Mark Gyetvay.

He said that even though Novatek had limited access to financial markets due to sanctions on Russia, Novatek managed to secure funding from the state, reports Reuters.

According to Russian development bank VEB’s chairman, Vladimir Dimitrev, 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.

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Image: Novatek

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