Oil and Gas

Russian economy minister says discussed Yamal LNG financing by French banks

MOSCOW, Jan 25 (Reuters) - Russian Economy Minister Alexei Ulyukayev said on Monday he had discussed possible financing of a Yamal LNG plant by French banks with French Economy Minister Emmanuel Macron.

The $27 billion project, which is due to start producing liquefied national gas (LNG) in 2017, has been struggling to raise funds due to international sanctions against Novatek , the main shareholder in Yamal LNG.

“As for the Yamal LNG project, the attention focused on the discussion of issues related to the financing of this project by French banks, and a possibility to organise it in such a way so that financial liabilities are fulfilled,” Ulyukayev told reporters after talks.

Reporting by Darya Korsunskaya; writing by Polina Devitt; editing by Dmitry Solovyov