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Russia may sign agreement with French banks on lending for Yamal LNG project this year

Earlier this year, Russia’s largest independent gas producer Novatek confirmed the volume of capital expenditures for Yamal LNG project in the amount of $27 bln

© Alexander Semenov/ITAR-TASS Archive

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Yamal LNG Project received $15 bln of investments — Novatek CEO

PARIS, April 15. / TASS /. French banks may participate in lending for the Yamal LNG project, a relevant agreement may be signed in 2016, Russia's Economic Development Minister Alexei Ulyukayev told reporters.

"As for French banks - we have made very serious progress there, we are very optimistic about it. I do hope [that the agreement on lending will be signed this year - TASS]," the minister said.

Earlier this year, Russia’s largest independent gas producer Novatek confirmed the volume of capital expenditures for Yamal LNG project in the amount of $27 bln.

Head of Novatek Leonid Mikhelson said that the company plans to sign a number of loan agreements on the projects with banks in Russia, China and Europe.

Yamal LNG is a large scale project on creating a liquefied natural gas production facility. Yamal LNG unlocks access to the vast gas resources of the Russian Arctic, while also opening a new LNG sea transport route to Asia using ice-class LNG carriers.

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