Russian independent gas producer Novatek has secured up to US$19bn of financing from Russian and international financial institutions for its US$27bn Yamal LNG project in the prolific Yamal-Nenets autonomous region of Russia. In May 2016, the company announced that it had secured US$12.1bn in loans from Chinese state-run banks. The loans were approved by the Export-Import Bank of China ($10.6bn) and the China Development Bank (US$1.51bn). The project also received around US$2.3bn (Rub150bn) from Russia National Wealth Fund in 2015 and signed loans worth US$4.1bn with Russia's Sberbank and Gazprombank in 2016.
Yamal LNG is the main shareholder of the 16.5 Mt/yr Yamal LNG liquefaction terminal project, with a 50.1% stake, along with CNPC (20%), Total (20%), and Silk Road Fund (9.9%). The LNG project will consist of three 5.5 Mt/year trains; the first 5.5 Mt/yr LNG train is expected to be commissioned in late 2017 (65% completed), the second in 2018 and the third in 2019.
Interested in LNG Databases?
World LNG Database offers a complete set of data on LNG markets. The service provides detailed information on existing and planned liquefaction and regasification plants. It also includes LNG shipping around the world, LNG contracts, time series on regasification and liquefaction capacities, LNG flows and LNG prices for all players in the market.