A major Russian private gas company has signed an international cofinancing agreement for a large-scale LNG = liquefied natural gas development project in the Arctic, including up to 1.2 trillion yen, including Japanese government-affiliated financial institutions. Announced that it has signed the agreement and expressed its willingness to expand exports to the Asian market.
On the 30th of last month, Russia's major private gas company "Novatech" raised a total of 9.5 billion euros and Japanese yen from financial institutions in Japan, China and Italy in addition to Russia for the LNG development project to be promoted on the Gidan Peninsula in the northernmost part of Russia. Announced that it has signed a contract to receive a loan of approximately 1.2 trillion yen.
Japan Bank for International Cooperation, a Japanese government-affiliated financial institution, also announced on the 1st that it has signed a contract to lend up to 220 billion yen in Japanese yen to this development project.
According to Novatec, this project is a large-scale project with a total project cost of approximately 2.7 trillion yen in Japanese yen and an annual production of up to 19.8 million tons of LNG from the summer of next year. = We have acquired a 10% interest and participated together with the Japan Oil, Gas and Metals and Mineral Resources Organization.
Novatek executives said, "80% will be for the Asia-Pacific market," and expressed their willingness to leverage the NSR to expand exports to the Asian market.
On the other hand, financial institutions in France and Germany did not participate in cofinancing as natural gas was also scrutinized in the global decarbonization trend.