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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