Russia's Novatek to Launch 1st Yamal LNG Train with No Additional Financing

Reuters

MOSCOW, March 10 (Reuters) – Russia's Novatek plans to launch its first train with 5.5 million tonnes of annual LNG capacity in Yamal in 2017, and this will require no additional financing, Stanislav Shevkunov, a department head at Novatek, told reporters on Thursday.

Yamal LNG is trying to raise above $10 billion in external financing, mainly from China, for the project, Russia's only second LNG plant. All in all, Yamal LNG should consist of three trains - with a total annual capacity of 16.5 million tonnes.

(Reporting by Olesya Astakhova; writing by Katya Golubkova; editing by Dmitry Solovyov)

 

Copyright 2016 Thomson Reuters. Click for Restrictions.

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