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Russia Beyond The Headlines

Yamal LNG seeks $12 bln in loans from Chinese banks - Total

April 28, 2016 Interfax, RBTH
The operator is also finalizing a $4 billion loan from Russian banks.
Yamal LNG is a project to construct a Liquefied Natural Gas (LNG) plant from the Yuzhno-Tambeysk gas condensate deposit, the reserves of which are 907 billion m3 according to PRMS - Petroleum Resources Management System standards. Source: Itar-Tass
An under-construction Liquefied Natural Gas (LNG) plant in the Yamal peninsula. Source: Itar-Tass

Yamal LNG is working to raise $12 billion in financing from Chinese banks, Total CFO Patrick de la Chevardiere said during a conference call this week.

“At present, we are finalizing a tranche from Russian banks equivalent to $4 billion and a tranche from Chinese banks equivalent to $12 billion. I do not want to assume the responsibility, but we may even sign [the documents] this week,” he said.

Read more: China becomes largest consumer of Russian crude - report

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