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

Copyright © 2016. All market data is provided by Barchart Market Data Solutions. Futures: at least 10 minute delayed. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

FEATURED COLUMNS

	Business trends -Adrienne Blume 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.
	Editorial comment -Adrienne Blume Gas Processing and Hydrocarbon Processing are pleased to announce that as of August 2017, Gas Processing will be distributed along with both Pipeline & Gas Journal and Hydrocarbon Processing.
	Regional focus -Eugene Gerden 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.