Arctic LNG 2 will receive $9.5 bln financial support

Russia’s Arctic LNG (liquefied natural gas) 2 project will receive an external financial support of about $9.5 billion, according to The Daily Times. The list of lenders includes Chinese and Japanese banks as well as European credit and insurance firms. China Development Bank will provide $5 billion and Japan Bank for International Cooperation is offering $2.5 billion.

French state investment bank and credit agency Bpifrance and German credit insurance firm Euler Hermes will provide $700 million in credit finance and $300 million respectively. Italian Export Credit Agency SACE plans to offer $1 billion into the project, while a Russian bank is considering a $1.5-billion investment.