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NOVATEK, CNPC & Chinese Banks Conclude MOU on Yamal LNG

Source: www.gulfoilandgas.com 9/10/2013, Location: Asia

OAO NOVATEK, China National Petroleum Corporation and a consortium of Chinese financial institutions concluded a memorandum on project financing for the Yamal LNG project.

According to the memorandum, the Chinese commercial banks China Development Bank Corporation, Industrial and Commercial Bank of China, Bank of China and China Construction Bank, will consider actively participating in the external project financing transaction of Yamal LNG project.

Final documentation with the Chinese commercial banks will be executed simultaneously with all of the other lenders participating in project financing of Yamal LNG, including, but not limited to, foreign export credit agencies, international and Russian commercial banks and other financial institutions.

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