French President Macron has banned banks from financing Arctic LNG-2 in Yamal Arctic LNG-2 in Yamal, despite the fact that TotalEnergies is participating in the liquefied natural gas (LNG) plant project. According to La Tribune, it was decided to limit funding for reasons of climate preservation.
However, as the newspaper notes, a boycott of France alone is not enough to “put a bandwagon on the project”: it has already received billions of dollars in funding from other credit organizations.
At the end of November it became known that Arctic LNG-2 will attract loans in the amount of 9.5 billion euros from Russian and foreign banks. 4.5 billion – the money of Russian credit institutions. This is a syndicate that includes Sberbank, Gazprombank and its subsidiary Bank GPB International SA, the state development corporation VEB.RF and Bank FC Otkritie.
The Arctic LNG-2 project envisages the construction of three lines for the production of liquefied natural gas with a capacity of 6.6 million tons per year each on the basis of gravity type. NOVATEK owns 60 percent of the project. TotalEnergies, Chinese CNPC and CNOOC, and Japan Arctic LNG B.V. own ten percent each.