“Yamal LNG” signed credit agreements with the Export-Import Bank of China and the China Development Bank

The company “Yamal LNG” informs about signing of agreements with the Export-Import Bank of China and the China Development Bank about giving credit lines in the size 9 milliard 300 million euro and 9 milliard 800 million yuan for 15 years.

Interest rates on the credit lines make EURIBOR 6M plus a margin of 3.30 percent per annum during the construction period, and 3.55 percent after full input of the project “Yamal LNG” into operation and SHIBOR 6M plus a margin of 3.30 and 3.55 percent per annum respectively. This information was given in the press-service of the company “Yamal LNG”. Earlier within attracting of project financing the company received 150 milliard rubles from the Russian National Wealth Fund on the return basis and also signed the contract with Sberbank and Gazprombank about giving of a credit line in the size 3 milliard 600 million euro for 15 years. The agreements with the Chinese banks together with the finances given by the National Wealth Fund and the credit lines of the Russian banks provide the project with the necessary amount of financing attracted from external sources. As the director general of “Yamal LNG” Yevgeniy Kot notes, the project is being fulfilled in conformity with the set schedule. Readiness of the first stage of the LNG-plant makes 65 percent. The project is on the most intensive stage of building and assembling work. Signing of the agreements with the Chinese banks allows fulfilling the project without attracting of additional funds from the side of the shareholders. The company “Yamal LNG” fulfills the project on building of the plant on production of liquefied natural gas with the capacity 16 million and 500 thousand tons of LNG per year on resource base of the South-Tambey field. The beginning of LNG-production is planned for 2017. The shareholders are: NOVATEK (50,1%), Total (20%), CNPC (20%), the Silk Road Fund (9.9%).