Negotiations on financing of «Yamal LNG» will be completed during a month
15:14 16 ноября 2015
Категории: News in English
The representatives of the Russian Federation and China intend to complete negotiations on attracting of funds for financing of the project «Yamal LNG» during a coming month.
This information was given by Deputy Prime Minister Arkady Dvorkovich to journalists by the results of the meeting of the Russian-Chinese Intergovernmental Commission on Energy Cooperation.
Work on this topic is taking place between companies and financial institutions. They communicated during the latest weeks, days, including yesterday and today. The sides came close enough to agreements; there are some technical aspects, on which consultations will be continued. There is a common desire to conclude these negotiations within the next month, as Arkady Dvorkovich says.
The head and the co-owner of NOVATEK Leonid Mikhelson, who participated in the meeting of the Commission, said to RIA «Novosti» that the meeting was constructive and, answering a question about attracting funds for «Yamal LNG», he said that it was decided to solve it quickly.
The project «Yamal LNG» foresees building of the plant with the capacity of 16 million and 500 thousand tons of liquefied natural gas per year on resource base of the South-Tambey field. The total cost of the project is 26 milliard and 900 million dollars. The first stage of the plant, as it is expected, will be started up in 2017. The shareholders of «Yamal LNG» are: NOVATEK — with a share in sixty percent, CNPC (China) and Total (France) – a share of each in twenty percent. At the beginning of September of 2015 NOVATEK and the Chinese Silk Road Fund signed the framework agreement about purchasing of 9.9 percent of shares in «Yamal LNG» by the Chinese Investment Fund.
Now the shareholders of Yamal LNG are negotiating with international export-credit agencies, Chinese and Russian banks on attracting of project financing. NOVATEK expects to attract most of the money in China. In February of 2015 «Yamal LNG» received the first tranche from the Russian National Wealth Fund in the amount of 75 milliard rubles; receiving of the second tranche in the same amount is being expected.