Total CEO Says Yamal LNG Financing on Track

Total Chief Executive Patrick Pouyanne said on Thursday that financing for the $27 billion Yamal LNG project it is developing in Russia with Novatek (NVTK.ME) was on track.

"Various banks are responding to bids and all is on track," Pouyanne told journalists in Paris.

The liquefied natural gas (LNGLF) (LNG) project in the Yamal peninsula in Siberia is set to produce a total of 16.5 million tonnes of LNG per year.

Novatek, Russia's largest independent natural gas producer, has been hit by Western sanctions imposed over Moscow's role in the Ukraine crisis, restricting the project's access to western financing.

Reporting by Bate Felix and Benjamin Mallet