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JBIC says considering financing Novatek's Arctic LNG-2 project

VLADIVOSTOK, Russia (Reuters) — The Japan Bank for International Cooperation is studying the possibility of providing financing for Arctic LNG 2, the second LNG plant of Russia’s Novatek, JBIC Chief Executive Tadashi Maeda told reporters.

JBIC has already provided $238 MM for Yamal LNG, Novatek’s first LNG plant and which is to be launched this year.

Asked about the possibility of providing financing for Novatek’s second plant, Maeda said participation of Japanese companies—direct or in the form of LNG buyers from the project—would be a condition.

“It’s conditional of Japanese companies’ participation in the project,” Maeda said. He added that the bank would not provide financing if there were no Japanese companies involved.

Reporting by Katya Golubkova; Editing by Chris Gallagher


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FEATURED COLUMNS

Editorial comment
-Adrienne Blume
According to GIIGNL’s 2018 Annual Report, global LNG trade expanded by 3.5 Bft3d in 2018, to 38.2 Bft3d—a record 10% increase.
Power, LNG projects drive pipeline construction in Africa
-Shem Oirere
Increasing public investment in gas-fired power plants in Africa, the continuing recovery in global oil prices and persistent insecurity in key producer markets, such as Nigeria, are likely to impact gas transmission pipeline projects on the continent, even as more international companies express interest in the region’s stranded gas resources.


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