Yamal LNG allocated $2.6bn for construction of South Tambeisky facility

Yamal LNG: Russian Prime Minister Dmitry Medvedev  late last week signed a resolution that will see RUB150bn ($2.6bn) being transferred from the  National Welfare Fund to Yamal LNG for the construction of a liquefied gas facility at the South Tambeisky gas condensate field on the Yamal peninsula. The facility is to have an eventual capacity of 16.5m tonnes and will cost in the region of $27bn. Yamal LNG is jointly owned by Russia’s Novatek (60%), France’s Total (20%) and China’s CNPC (also 20%),  but is unable to raise capital on the Western markets due to sanctions.  ITAR-TASS