Russia's Novatek Says Shareholders To Decide On $600M Loan For Yamal LNG

Reuters

MOSCOW, June 9 (Reuters) - Russia's largest non-state gas producer Novatek said on Thursday its shareholders would decide on a new loan worth $600 million for the Yamal LNG project on June 20, according to Interfax news agency.

The $27 billion Yamal LNG project envisages three liquefied natural gas (LNG) production lines with a capacity of 5.5 million tonnes a year each. The gas the project produces would be exported to world markets.

Novatek has a 50.1 percent stake in what will be only Russia's second LNG plant. France's Total and China's CNPC hold 20 percent each. And in March, Novatek agreed to sell a 9.9 percent stake to the China Silk Road Fund.

(Reporting by Vladimir Soldatkin; Editing by Alexander Winning)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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