Yamal LNG signs $12 billion Chinese loan deal
On 29 April 2016 the Yamal liquefied natural gas (LNG) project signed 15 year loan agreements with Export-Import Bank of China and the China Development Bank equivalent to $12 billion.
Portland advised the Chinese banks in relation to this financing.
The project has already secured state loans of 150 billion roubles ($2.3 billion) from Russia’s National Wealth Fund and $4 billion equivalent from Russian lenders Sberbank and Gazprombank.
Yamal LNG is a 16.5 mtpa LNG project located in Western Siberia, owned by Novatek OAO, (50.1%), Total SA (20%), CNPC (20%) and China’s Silk Road Fund (9.9%).
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