CNPC to transfer the first tranche of prepayment for financing of Yamal LNG at the end of 2014
Edited by Rhod Mackenzie / 2014-05-22 01:55:38
Chinese CNPC to transfer the first tranche of the funding for the project Yamal LNG in the last quarter of 2014.
This statement was made by co-owner of Novatek, G.Timchenko on May 22nd.
As G.Timchenko explained, CNPC was ready to provide $20 billion for the entire duration of the project.
The main shareholder of Yamal LNG is Novatek, which owns 60 % of shares, 20 % belong to French Total, and other 20 % to a subsidiary of CNPC.
Yamal LNG is considered to be one of the most expensive oil and gas projects in the world.
The cost of its implementation is about $30 billion.
