Sept 25 (LNGJ) - Novatek, the Russian natural gas company and operator of the Yamal LNG plant in northern Siberia as well as lead developer of the Arctic LNG II project, said it had fulfilled all the conditions stipulated by the Yamal external bank financing package and debt service guarantees were now able to be lifted.
“We have reached another significant milestone on Yamal LNG with the removal of the guarantees relating to the project’s financing,” said Leonid Mikhelson, Novatek Chairman. “The removal of the guarantees will allow Novatek to attract external financing for its new projects on more favorable terms, and equally important, removes the restrictions on our dividend payout ratio,” added Mikhelson.
