Novatek to invest on schedule.
Edited by Rhod Mackenzie / 2015-01-26 07:04:40
Novatek will invest on schedule but hardly localize the LNG equipment in Russia
NOVATEK and CNPC and Total, its partners in the "Yamal LNG", despite the economic crisis and the sanctions are not going to reduce the investment in the project. In 2015 the investments should reach $ 8 billion, of which the company itself accounts for 60%. NOVATEK will receive some of the money from the NWF - $ 2.3 billion - in Q1, and the rest is planning to be raised up by July 1. The company is looking for ways to reduce the cost of LNG projects by localization of the production equipment, but the analysts believe the idea is unfeasible.
