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Novatek requests reduction of interest rates for LNG tankers construction

Wednesday, 31 July 2019 | 16:00

Chief Executive Officer of the Russian natural gas producer Novatek requested that the government subsidize interest rates for the construction of 15 LNG (liquefied natural gas) carriers of the Arctic LNG 2 project at the Zvezda Shipyard. The relevant letter was sent to Prime Minister Dmitry Medvedev, Kommersant newspaper reported.

“Mikhelson suggested either subsidizing interest rate from the budget or depositing money of the National Wealth Fund at accounts with VEB.RF,” the publication says. “The latter option, as indicated in the letter, was proposed by VEB.RF; no details are given,” the newspaper reports.

Arctic LNG 2 is the second LNG project of Novatek, with the capacity of 19.8 mln tonnes. The first stage is intended to be launched in 2022-2023.
Source: TASS

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