Novatek: Shareholders to Decide on $600 Mln Loan for Yamal LNG

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)