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    TASS: Russia's Novatek may face difficulties with financing Yamal LNG project — media

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Summary

The Yamal-LNG project will cost $27 bln, and the investments in the projects totals $10 bln. Media reports say Novatek may face difficulties with financing Yamal LNG project.

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TASS: Russia's Novatek may face difficulties with financing Yamal LNG project — media

Russian independent gas producer Novatek may face difficulties with financing the Yamal LNG project, Kommersant business daily reported on Thursday.

The Yamal-LNG project will cost $27 bln, by now the investments in the projects totals $10 bln.

Since the beginning of the year, Novatek has invested 17 bln rubles ($265 mln) and in the third quarter it provided a loan worth 245 mln euros /482 ml euros in 9 months with 4.46% interest/.

It is difficult for Novatek to keep the same pace of financing because in the first half of 2016 the company will have to make payments on its short term debts worth 98 bln rubles ($1.5 bln). This includes the Eurobond issue worth $600 mln. MORE

 

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