China’s CNPC: Russia’s Yamal LNG to get loans of around $10 billion
4/21/2016
MOSCOW, April 21 (Reuters) -- Russia's Yamal LNG project, which is expected to start producing liquefied natural gas (LNG) next year, will receive around $10 billion in loans from Chinese banks in May, an official at China National Petroleum Corp. (CNPC) said on Thursday.
"It has been almost decided, the talks with the banks are underway," CNPC's first vice president Wang Zhongcai told reporters in Moscow.
Russia's Novatek holds 50.1% in Yamal LNG; France's Total and CNPC control 20% each; and China's Silk Road Fund bought a 9.9% stake for 1.09 billion euros ($1.2 billion) last month.
($1 = 0.8838 euros)
(Reporting by Olesya Astakhova; Writing by Vladimir Soldatkin; Editing by Andrew Osborn)
Sign up to Receive Our Newsletter
- RWE strengthens partnerships with ADNOC and Masdar to enhance energy security in Germany and Europe
- TotalEnergies and Mozambique announce the full restart of the $20-B Mozambique LNG project
- Five energy market trends to track in 2026, the year of the glut
- Venture Global wins LNG arbitration case brought by Spain's Repsol
- Trinity Gas Storage reaches FID on Phase II expansion
Comments