Falling oil price is no threat to Yamal LNG – Timchenko
VTB Capital continues to view Yamal LNG as ‘risky’ because of its technically complicated nature. (Novatek)
The problems that have arisen on the world oil market do not pose a threat to the prospects of the Yamal LNG project, Novatek majority shareholder Gennady Timchenko told journalists on Tuesday.
Oil prices may remain low for longer than two months, but not forever, and they will bounce back by the time the Yamal LNG project is commissioned, according to Timchenko. “I don’t see problems with oil. Now it’s one way, but after a certain amount of time it will cost twice as much. We are not changing the timeframe [for launching Yamal LNG],” he said.