Bank approves funds for Arctic LNG 2
1/21/2021
Russia's Sberbank said it has approved financing of up to $3.64 billion for the Arctic LNG 2 project, Interfax news agency reported.
The $21 billion project led by Novatek NVTK.MM received final investment approval in 2019 and is scheduled to be launched in 2023.
It is expected to reach its full annual capacity of almost 20 million tonnes of liquefied natural gas in 2026.
($1 = 0.8235 euros)
(Reporting by Gabrielle Tétrault-Farber; writing by Vladimir Soldatkin; editing by Jason Neely)
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