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Export credit agencies of Sweden, Germany to participate in Yamal LNG financing

April 21, 12:40 UTC+3

Yamal LNG is a large-scale project on creating a liquefied natural gas production facility with 16.5 mln tonnes per year capacity

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MOSCOW, April 21. /TASS/. German and Swedish export credit agencies will participate in Yamal LNG project funding, chief executive officer of Russian natural gas producer Novatek Leonid Mikhelson said on Friday.

"Appropriate positive decisions of export credit agencies of Germany and Sweden have been made just recently. They will also join financing of Yamal LNG project," Mikhelson said.

"The project is actually supported in terms of international funding volume but I believe participation of Germany and Sweden is highly important politically," he added.

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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