Russia's arctic LNG project finds $9.5 billion financing from international lenders
International lenders have lined up about $9.5 billion (7.33 billion pounds) in financial support for a Russian Arctic LNG project, according to documentation.
The $21 billion project, which received final investment approval a year ago, is expected to be launched in 2023 and to reach its full capacity of almost 20 MM tonnes per year in 2026.
The interest of international institutions, however, gives a boost for the Arctic LNG 2 development, led by Russian non-state company Novatek, as Moscow's plans to raise its share in the global LNG market.
