Yamal LNG Project has been financed in the amount of $15 billion, Chief Executive Officer of Russian natural gas producer Novatek Leonid Mikhelson said on Monday at the meeting with Russian President Vladimir Putin.
Russian new agency TASS reports that Chinese partners invested about $5 billion and French partners — $3.7 billion, Mikhelson said. Shareholders of OAO Yamal LNG are Novatek (60%), China’s CNPC (20%) and French Total (20%).
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
About $15 billion have been invested to date, including two thirds being resources of the National Wealth Fund, Mikhelson said. “The time is challenging. Novatek is in the sanction list.
We received the second tranche [from the National Wealth Fund] and continue financing together with partners, ” Mikhelson said. OAO Yamal LNG is implementing the project of constructing the liquefied natural gas plant with the capacity of 16.5 million tons of LNG per year on the resource base of Yuzhno-Tambeiskoe field. LNG production start is scheduled to 2017.
