VEB to specify its stake of participation in financing of Yamal LNG

​In the near future VEB will specify its stake of participation in the financing of Yamal LNG, the deputy chairman of VEB, A. Klepach, said.

Novatek has found funds for Yamal LNG. I can’t comment our participation now. We will see how financing will work out by the sources Novatek has attracted, he said.

The Government issues funds for the project of construction of Yamal LNG plant from the NWF at the volume of 150 bln roubles.

In February the Ministry of Finance signed an agreement with Yamal LNG for the purchase of a part of bonds of the first issue nominated in dollars. The agreement is signed for the purchase of bonds for $1.207 bln. Yamal LNG offered 2 issues of bonds, each with the value of $2.3 bln.

Meanwhile the Minister of Economic Development, A. Ulyukaev, said that the Government doesn’t plan to participate in the purchase of the 2nd issue of bonds. He said that the company had held the issue of bonds at a larger-scale than it was stipulated by the buyers of the issue (Ministry of Finance).