16 december 2016

Yamal LNG Signed Loan Agreement with JBIC

Tokyo, 16 December 2016. Today, taking the opportunity of the meeting between the President of Russian Federation Vladimir Putin and the Prime Minister of Japan Shinzo Abe, OAO Yamal LNG (“Yamal LNG”) signed a credit line facility with the Japan Bank for International Cooperation (JBIC) for the amount of EUR 200 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 12 December 2016 are parts of the project financing package for the total amount equivalent to USD 19 billion, including financing from the Russian and Chinese banks and the National Welfare Fund of Russia.

General Director of Yamal LNG, Evgeniy Kot stated: “We welcome the participation of JBIC in the external financing package for the Yamal LNG project. The credit facility allows us to optimize our financing structure and represents an important step in developing our mutually beneficial cooperation with Japan”.

Note

Yamal LNG is involved in construction of a 16.5 mmtpa natural gas liquefaction plant on the base of the hydrocarbon resources of the South-Tambeyskoye field. First LNG production is scheduled for 2017. Yamal LNG shareholders are: NOVATEK (50.1%), CNPC (20%), Total (20%), and Silk Road Fund (9.9%).

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