Yamal LNG Financing in Final Stages
Photo: Novatek
A deal to raise financing for the Novatek (NVTK.ME)-led Yamal LNG project in Russia is in its final stages, Chairman of Gazprombank, Andrey Akimov, told Reuters.
Gazprombank is a co-lender to Yamal LNG on the Russian side, along with Sberbank. State development bank VEB has pledged $3 billion in banking guarantees to the project.
Akimov said that Chinese lenders are set to provide $12 billion, Russian banks $4 billion, and export credit agencies are expected to put up another $4 billion. He said he planned to travel to China in early November for talks on the deal.
(Reporting by Andrey Kuzmin; Writing by Katya Golubkova; Editing by Andrew Osborn)
