Russia’s Yamal LNG project worth $27 billion has signed a 15-year loan agreement for a total of $12 billion with two Chinese banks.
"With the first train of the LNG plant 65% complete we are currently at the most intensive phase of construction and assembly works,” said Yamal LNG director general, Yevgeny Kot.
The company is expected to construct a LNG plant with three trains, each with a capacity of 5.5 million tonnes per year.
Thanks to the new funds, the Yamal LNG project will now begin production of liquefied gas in 2017.
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