Reuters Reports International Lenders May Finance 9.5 Billion Dollars for Arctic LNG 2
OREANDA-NEWS. Five international lenders are ready to allocate about 9.5 billion US dollars to finance the project Arctic LNG 2. This was reported by Reuters agency, citing a document from the French state bank Bpifrance, which is one of the lenders.
Arctic LNG 2 is Novatek’s second largest liquefied natural gas (LNG) project after Yamal LNG. It is planned to build three technological lines with a capacity of 6.6 million tons per year. The launch of the project is scheduled for 2023. Russian gas producer Novatek previously informed that the project would require about 9–11 billion dollars.
The largest investor is expected to be China Development Bank, which may invest 5 billion dollars. Bpifrance plans to invest 700 million. Among other prospective investors, Reuters names the German insurance company Euler Hermes (300 million), Japan Bank for International Cooperation (2.5 billion), and Italian state export credit agency SACE (1 billion dollars). 1.5 billion dollars may be invested by an unnamed Russian bank.