On 15 December 2016 Yamal LNG signed a 15 year loan agreement with the Japanese Bank for International Cooperation (JBIC). Portland advised JBIC in relation to this financing. The financing is the final piece of the overall $19 billion financing for the Yamal LNG project which also comprises facilities from Chinese and Russian lenders and loans supported by SACE and COFACE. Portland advised China Development Bank, China Eximbank, EXIAR (the Russian export credit agency), SACE, COFACE and JBIC in relation to this ground-breaking financing.
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