Yamal LNG raises more financing with coverage by Swedish and German ECAs

(Your Oil & Gas News, Edinburgh, 1 June 2017) Yamal LNG announced the signing of agreements with several European banks, inter alia Raiffeisen Bank International AG and Intesa Sanpaolo for up to 425 million with insurance coverage provided by the Swedish export credit agency EKN and the German export credit agency Euler Hermes. Yamal LNG has previously received financing from the National Welfare Fund of Russia, signed agreements on credit lines with Sberbank and Gazprombank, as well as with the China Development Bank and the Export-Import Bank of China, the Japan Bank for International Cooperation (JBIC) and the bank Intesa Sanpaolo with insurance coverage by the Italian export credit agency SACE and the French export credit agency COFACE. In June 2015 WWF Russia noted that the Environmental and Social Impact Assessment of the project, while complying with the best Russian practices were not complete regarding a number of issues and that certain ESIA strategic conclusions required additional discussions and consultations.