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    Reuters: Russia's Sberbank Says to Decide on Yamal LNG Financing Terms by Month-End

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Summary

Sberbank, a Russian bank that is one of the Yamal LNG project's lenders, will make a decision about the finance deal's terms by this month, an executive says

by: Erica Mills

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Reuters: Russia's Sberbank Says to Decide on Yamal LNG Financing Terms by Month-End

Russia's Sberbank, one of the lenders for the Novatek-led Yamal LNG project, will take a decision about the deal's terms before the end of this month, Maxim Poletayev, first deputy chief executive with the state-controlled bank, told Reuters.

Novatek, Russia's largest independent natural gas producer, has been hit by Western sanctions imposed over Moscow's role in the Ukraine crisis. It had expected to get up to $20 billion from Chinese banks by the end of 2014, but later said that the deal had been delayed until mid-2015 and the amount cut to 'over $10 billion.'

Read the full article HERE.

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