AsiaCorporate

Novatek says Yamal LNG debt service guarantees removed

By LNG Prime Staff
Novatek says Yamal LNG debt service guarantees removed
Image: Novatek

Russia‘s Novatek said Thursday the debt service guarantees for its Yamal LNG development were formally removed after the firm completed all the conditions stipulated by the project’s external bank financing.

Novatek’s chief executive and Russian billionaire Leonid Mikhelson said this marks another significant milestone on Yamal LNG.

“The removal of the guarantees will allow Novatek to attract external financing for its new projects on more favorable terms, and equally important, removes the restrictions on our dividend payout ratio,” Mikhelson said.

Yamal LNG is building a 17.4 mtpa LNG export plant comprising of three trains of 5.5 mtpa, each.

Additionally, the project is constructing a smaller LNG train of 900,000 tons per year capacity.

The first LNG train started production in the fourth quarter of 2017. Novatek launched trains 2 and 3 in July 2018 and November 2018, respectively.

Yamal LNG shareholders include Novatek (50.1%), France’s Total (20%), China’s CNPC (20%), and the Silk Road Fund (9.9%).

Most Popular

LNG Terminals

Venture Global wins Calcasieu Pass arbitration against Shell

US LNG exporter Venture Global LNG has won an arbitration case against UK-based LNG giant Shell over LNG sales from the Calcasieu Pass plant in Louisiana.
Contracts and Tenders

AG&P LNG inks offtake MoU for Australian LNG import project

Nebula Energy’s AG&P LNG said it had signed a memorandum of understanding with an Australian integrated energy provider under which the latter may become a significant offtaker of the proposed Outer Harbor LNG terminal in South Australia.
LNG Terminals

Excelerate working to expand Jamaican LNG business

US FSRU player Excelerate Energy has already made some smaller investments to further optimize its recently acquired LNG business in Jamaica, according to CEO Steven Kobos.

More News Like This

Corporate

Novatek reports lower H1 profit

Russian LNG producer Novatek reported a 34 percent drop in its net profit in the first half of this year.
LNG Terminals

Russian LNG production continues to decline

Russian liquefied natural gas (LNG) production continued to decrease in June compared to last year, according to the Russian statistics agency Rosstat.
Vessels

EU lifts sanctions against LNG carrier trio

The European Union has lifted sanctions against three ice-class liquefied natural gas (LNG) tankers operated by Japan's shipping giant MOL and intended to serve Novatek's Arctic LNG projects in Russia.
Corporate

Novatek’s gas sales climb in Q2

Russian LNG exporter Novatek reported a rise in its natural gas sales, including LNG, in the second quarter of this year.

2025. © All rights reserved. LNG Prime LLC. 447 Broadway, New York, NY 10013, USA