• Home
  • News
  • Syndicate of VEB.RF and other banks to finance Arctic LNG 2 project
  • 2021 April 29 13:47

    Syndicate of VEB.RF and other banks to finance Arctic LNG 2 project

    Image source: NOVATEK
    The syndicated loan will be EUR 3.11 billion

    VEB.RF and a consortium of commercial banks including SberBank, Gazprombank, Bank GPB International S.A. and Otkritie Bank have signed an agreement with Arctic LNG 2, LLC on providing a syndicated debt finance for implementation of the Arctic LNG 2 project, VEB.RF says in a press release.

    The syndicate of banks will provide EOR 3.11 billion for 15 years to finance the construction of an LNG and stable gas condensate complex, Arctic LNG 2.

    “It is the most significant initiative in the region. This project is strategically crucial for the development of the Northern Sea Route and the Arctic. VEB.RF takes part in its implementation together with commercial banks of Russia. VEB.RF earlier provide financing for construction of 15 ice-class LNG carriers intended for LNG transportation under the Arctic LNG 2 project”, said Daniil Algulyan, Deputy Chairman of VEB.RF.

    “We are glad to participate in such an ambitious strategic project as Arctic LNG 2. Its financing by Sber is EUR 2 billion with a credit line opened for 15 years. Implementation of the Arctic LNG 2 will further strengthen Russia’s position in the global gas market. It is especially essential for us that the construction is based on the most advanced technologies ensuring minimization of the environmental footprint in the Arctic” comments Anatoly Popov, Deputy Chairman of the Executive Board, SberBank.

    “Gazprombank continues active cooperation with the major players in the oil and gas market of Russia. Being a grantor of a credit under the Yamal LNG project we are happy to become an integral participation of another ambitious LNG project that is being implemented by NOVATEK and that is crucial for the social and economic development of the entire country”, said Aleksey Belous, Chairman of the Management Board, Gazprombank.

    Victor Nikolayev, Deputy President – Chairman of the Management Board, Otkritie Bank, commented: “We have a highly positive outlook on the project and we are grateful to our partners for the trust and for the opportunity to participate. Low cost of the product, efficient financial model and strong international investors make the project unique and highly competitive. Arctic LNG 2 is a significant project for Russian economy and we, as a federal bank, are interested in its successful implementation”.

    Arctic LNG 2 envisages constructing three LNG liquefaction trains of 6.6 million tons per annum each, as well as cumulative gas condensate production capacity of 1.6 million tons per annum. The total LNG capacity of the three liquefaction trains will be 19.8 million tons.

    The Project’s participants include: NOVATEK (60%), TOTAL (10%), CNPC (10%), CNOOC Limited (10%) and the Japan Arctic LNG, consortium of Mitsui & Co., Ltd.  and JOGMEC (10%).




2021 October 25

17:44 Estonia’s Elenger takes delivery of first Damen LGC 6000 LNG bunkering vessel
17:34 Carnival Cruise Line christens Mardi Gras in first naming ceremony in the U.S. since industry restart
16:57 Sembcorp Marine clarifies report on the Johan Castberg Project
16:47 Two ways to experience the Fort Lauderdale Int'l Boat Show
15:23 Trafigura Group closes USD2.4 billion-equivalent syndicated revolving credit facility and term loan facilities
14:22 Sea Port of Saint Petersburg’s employees support package during COVID-19 pandemic
14:02 Svanehøj launches a new control system makes P&C offloading faster and easier
13:20 PIL launches new direct China to Gulf Service – Gulf China Service
12:15 Port of Hamburg honoured as ‘Best Seaport – Europe’
11:35 LR granted AiP to Samsung Heavy Industries for liquefied hydrogen carrier
11:12 Rosmorport updates Port of Ust-Luga data in the Register of Russia’s seaports
10:17 MABUX: Bunker prices may demonstrate upward changes on Oct 25
09:38 Russian Gov’t gives green light to imposing some port services tariffs in foreign currency
09:21 Baltic Dry Index as of Oct 22
09:17 Oil prices rise as crude stocks decline

2021 October 24

15:18 Carnival Cruise Line christens Mardi Gras
14:31 TenneT's Hollandse Kust (noord) jacket ready to set sail
13:48 Jonathan Lord MP visits Petrofac to discuss hydrogen technology in woking
13:24 CDWE signs ECA for the provision of pin piles with EEW for Hailong project
12:51 Prosafe SE: Prosafe awarded 2022 contract by TotalEnergies
12:31 FMD names Robert Starr Chief Financial Officer
11:08 Holland America Line's Rotterdam is on maiden voyage from Amsterdam to Florida for inaugural Caribbean season

2021 October 23

14:32 Viking begins sailing from Port Everglades for 2021-2022 winter season
13:12 Maritime NZ launches latest No Excuses on-water boating safety campaign
12:41 Governor Ron DeSantis: Florida’s seaports are open and ready to meet holiday demands
11:34 Ecochlor appoints Andrew Marshall as CEO
10:49 USCG interdicts 3 lanchas illegally fishing US waters

2021 October 22

18:01 RS provides the designers with a tool for automated check of hull structures
17:40 IADC supports 5th International Congress “Hydraulic Engineering Structures and Dredging” as its Partner
17:15 EXMAR and LATTICE announce joint development of CO2 carrier
16:27 Cargo traffic within Azov-Don Basin of Russia’s IWWs fell by 12% in 10M’21
16:04 COSCO SHIPPING Ports and Silk Road Fund agree to establish cooperative strategic relationship
15:12 Port of Salalah partners with Maersk to launch a new end-to-end logistics service to Yemen through the Al-Mazyunah free zone
14:58 Marine Recruiting Agency trained 38% more people in 9M'2021
14:22 North Sea Port makes up for pandemic losses step by step in the first nine months of 2021
13:22 Bollinger Shipyards delivers 46th fast response cutter ahead of schedule despite direct hit from hurricane Ida
12:32 Port of Los Angeles reduces net air pollution during pandemic year
12:28 Navigation season officially closed in Lena Basin of RF IWW
12:01 GTT is selected by Samsung Heavy Industries to design the fuel tanks for six new LNG-fueled mid-size container vessels
11:49 Austal Australia delivers 13th Guardian-class Patrol Boat
11:22 Hyundai Heavy Industries awards no objection letter to Gazpromneft Ocean oils
10:21 Singapore crowned as the “Best Global Seaport” for the first time and won "Best Seaport in Asia" for the 33rd time
10:11 Delegation of MOL shipbuilding company visits Rosmorport’s Murmansk Branch
09:49 MABUX: Bunker prices may demonstrate downward changes on Oct 22
09:27 Crude oil prices decrease following the growth
09:10 Baltic Dry Index as of October 21

2021 October 21

18:26 Mermaid contract awards in Thailand, Angola and Saudi Arabia total 120 million USD
18:02 Non-self-propelled dredgers of Project 4395 laid down in Gorodets for Russian IWW Basin Administrations
17:46 Magseis Fairfield enters strategic collaboration with PGS for the hybrid towed streamer and OBN market
17:31 HELCOM adopts the updated Baltic Sea Action Plan, charting a way forward for a healthy Baltic Sea
17:16 DP World launches CARGOES Logistics
16:30 Proman and Stena jointly develop methanol as the pathway to sustainable shipping
16:14 APM Terminals and ZPMC enter into strategic alliance
15:33 MPC Container Ships ASA secures new financing facility, agrees on sale of six vessels and provides update on charter fixtures
15:32 Okskaya Shipyard lays down lead ship of Project RSD71 for Volga Shipping Company
15:03 NYK and Japan Marine Science to introduce and promote new mooring system to Japan ports together with Trelleborg Marine Systems
14:45 MABUX: Bunker Weekly Outlook, Week 42, 2021
14:03 NYK delivers new LNG carrier LNG Endeavour to TotalEnergies
13:49 Global Ports Investments published its Q3 and 9m 2021 operational results
13:28 Seaspan Ferries to reduce greenhouse gas emissions through using carbon-neutral Renewable Natural Gas in LNG-powered vessels