China's CNPC: Russia's Yamal LNG to get Loans of Around $10B


MOSCOW, April 21 (Reuters) - Russia's Yamal LNG project, which is expected to start producing liquefied natural gas next year, will receive around $10 billion in loans from Chinese banks in May, an official at China National Petroleum Corp (CNPC) said on Thursday.

"It has been almost decided, the talks with the banks are underway," CNPC's First Vice President Wang Zhongcai told reporters in Moscow.

Russia's Novatek holds 50.1 percent in Yamal LNG; France's Total and CNPC control 20 percent each; and China's Silk Road Fund bought a 9.9 percent stake for 1.09 billion euros ($1.2 billion) last month.

(Reporting by Olesya Astakhova; Writing by Vladimir Soldatkin; Editing by Andrew Osborn)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Facilities Engineering Manager
Expertise: Engineering Manager|Facilities Engineer|Refinery / Plant Operations Supervisor
Location: Lake Charles, LA
Digital Project Manager & Consultant
Expertise: Graphics Design|PR / Corporate Communications
Location: San Ramon, CA
Regional NACE Cathodic Protection Engineering Manager - oil and gas
Expertise: Engineering Manager
Location: Houston, TX
search for more jobs

Brent Crude Oil : $52.72/BBL 3.31%
Light Crude Oil : $48.51/BBL 3.01%
Natural Gas : $2.89/MMBtu 1.36%
Updated in last 24 hours