China promises to speed up work on financing for Yamal LNG project — Russian official

Chinese Premier Li Keqiang has pledged to speed up the process of financing for Yamal LNG project, Russia’s Deputy Prime Minister Arkady Dvorkovich told reporters on the sidelines of the Boao Forum for Asia.

“We discussed several issues with the premier of the State Council, including the implementation of the Yamal LNG project and supplies of Russian agricultural products to the Chinese market. The Premier’s response was positive and he said that he would give instructions to speed up the work,” – Dvorkovich said after the meeting with Li Keqiang.

Yamal LNG is a large scale project on creating a liquefied natural gas production facility. Yamal LNG unlocks access to the vast gas resources of the Russian Arctic, while also opening a new LNG sea transport route to Asia using ice-class LNG carriers.

Russian largest independent gas producer Novatek holds 50.1% in the project. China’s CNPC holds 29.9%, while French Total owns 20%. The Silk Route foundation owns 9.9%

The volume of capital expenditures for Yamal LNG project will amount $27 bln, Head of Novatek Leonid Mikhelson said in February.

Russia considers RIC important cooperation mechanism with China, India - foreign ministry
Rosneft’s subsidiary starts Vietnam operations
* - обязательное для заполнения