Novatek-operated Yamal LNG project in the Russian Arctic is reportedly expected to receive funding by the end of 2015.
The information was revealed by a vice president of Novatek’s JV partner Total, RIA news agency reported on Friday.
The construction on the 16 mtpa LNG project is progressing with the first cargo from the facility still expected in 2017.
LNG engineer Technip informed in October that the first pipe rack module for the initial LNG train was shipped and installed onto its foundations.
Yamal LNG is a joint venture between Novatek (60 percent), Total (20 percent) and China National Oil & Gas Exploration and Development Corporation (20 percent) with China’s Silk Road Fund soon to complete the acquisition of 9.9 percent stake from Novatek.
LNG World News Staff; Image: Novatek