Germany and Sweden to provide funding for Yamal LNG

German and Swedish export credit agencies will take part in the Yamal LNG project, Novatek Chief Executive Leonid Mikhelson said.
By Staff reporter 21 April 2017 0 25582

German and Swedish export credit agencies (ECAs) will take part in the Yamal LNG project, Novatek Chief Executive Leonid Mikhelson said during the company’s shareholder annual general meeting.

Mikhelson did not disclose the extent of their participation, but said the ECAs would join the project in Q2. The total cost of the project is $27 billion.

Yamal LNG has signed credit agreements for the equivalent of $12 billion with China Development Bank and the Export and Import Bank of China, and the equivalent of $4 billion with...

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