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Novatek shareholders approve $19 bln external financing for Yamal LNG — company

June 21, 9:51 UTC+3
The company’s shareholders are Russia’s gas company Novatek - 50.1%, France’s Total - 20%, China’s CNPC - 20% and the Silk Road Fund - 9.9%
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© Alexander Semyonov/ITAR-TASS

MOSCOW, June 21. /TASS/. Novatek shareholders approved $19 bln of external financing to be raised for construction of Yamal LNG Plant at the extraordinary meeting, the Russian gas producer said on Tuesday.

"Approved transactions and agreements are related to project financing for Yamal LNG with participation of Russian and international financial institutions in the amount of $19 bln," the company said.

Yamal LNG has already made loan agreements in respect of resources from the Russian National Wealth Fund, with Gazprombank, Sberbank, Export-Import Bank of China and China Development Bank to the amount equivalent to $18.4 bln.

Yamal LNG is a large scale project on creating a liquefied natural gas production facility with 16.5 mln tonnes per year capacity. The project involves the creation of transport infrastructure, including a seaport and an airport near the Sabetta village (north-east of the Yamal Peninsula). The company’s shareholders are Russia’s gas company Novatek - 50.1%, France’s Total - 20%, China’s CNPC - 20% and the Silk Road Fund - 9.9%.

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