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
The small-scale GTL (SSGTL) and small-scale LNG (SSLNG) sectors are gaining ground, providing alternative sources of power generation and transportation fuel in remote regions and areas not connected to major gas pipeline routes.
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Novatek, Russia’s largest independent natural gas producer, plans to invest up to $11 B in the large-scale Arctic LNG 2 project. The project involves the construction of an LNG plant on the Gydan Peninsula—a geographical feature of the Siberian coast of the Kara Sea.
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