Novatek-operated Yamal LNG project on Friday signed a credit line facility with the Japan Bank for International Cooperation for the amount of €200 million (Approx: US$209.1 million).
The loan agreement with JBIC as well as the loan agreement with the bank Intesa Sanpaolo with insurance coverage by the Italian export credit agency SACE and the French export credit agency COFACE signed on December 12, 2016 are part of the project financing package for the total amount equivalent to $19 billion, including financing from the Russian and Chinese banks and the National Welfare Fund of Russia, Yamal LNG said in a statement.
General director of Yamal LNG, Evgeniy Kot said, “the credit facility allows us to optimize our financing structure and represents an important step in developing our mutually beneficial cooperation with Japan.”
The $27 billion Yamal LNG project with the production capacity of 16.5 mtpa is on track to ship its first cargo of LNG by the end of next year.
Shareholders in the Yamal LNG project are Novatek, as the operator with a 50.1 percent stake, CNPC and Total with a 20 percent stake each and China’s Silk Road Fund with a 9.9 percent stake.
1 EUR = 1.04553 USD
LNG World News Staff