China’s Silk Road Fund (SRF) has provided €700 million ($759 million) for the $27 billion Yamal LNG project, Novatek Chief Executive Leonid Mikhelson told reporters.
Novatek and SRF will sign a deal on the sale of a 9.9% stake in the Arctic development on Thursday.
The project company and its shareholders expect to raise up to $20 billion in financing by the end of this year.
Sberbank and Gazprombank will provide $4 billion, while other financial institutions – including some from Asia and Europe – will...
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