March 10, 2016 / 10:06 AM / 4 years ago

Russia's Novatek to launch 1st Yamal LNG train with no additional financing

MOSCOW, March 10 (Reuters) - Russia’s Novatek plans to launch its first train with 5.5 million tonnes of annual LNG capacity in Yamal in 2017, and this will require no additional financing, Stanislav Shevkunov, a department head at Novatek, told reporters on Thursday.

Yamal LNG is trying to raise above $10 billion in external financing, mainly from China, for the project, Russia’s only second LNG plant. All in all, Yamal LNG should consist of three trains - with a total annual capacity of 16.5 million tonnes. (Reporting by Olesya Astakhova; writing by Katya Golubkova; editing by Dmitry Solovyov)

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