Report: Russia’s Yamal LNG may get $400 mln from Japan’s JBIC

MOSCOW, Sep 2 (PRIME) -- Russia’s Yamal LNG liquefied natural gas plant project led by independent gas producer Novatek can receive a U.S. $400 million loan from the Japan Bank for International Cooperation (JBIC), Bloomberg reported Friday citing JBIC CEO Tadashi Maeda.

JBIC has almost finalized the agreement with the project and plans to sign a memorandum of understanding for strategic partnership with Novatek, which owns a 50.1% stake in Yamal LNG, Maeda said.

The bank can also consider investing in Novatek’s Arctic LNG project next year, but only when its Yamal LNG participation is complete, Maeda said. “We are almost finalized for Yamal, and then we’ll move on to exploring the next opportunity of Arctic LNG,” he said.

The Yamal LNG project envisages construction of a 16.5-million-tonne LNG plant on the basis of the Yuzhno-Tambeiskoye field on the Yamal Peninsula. China’s CNPC owns 20% and China’s Silk Road Fund holds 9.9%.

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