Russia's Novatek Gets Chinese Funds For $20B Gas Plant

Law360, New York (September 10, 2013, 6:51 PM EDT) -- OAO Novatek, Russia's second-largest natural gas company, has secured an agreement for an undisclosed amount of financing from four of China's foremost banks for its proposed $20 billion liquid natural gas facility in northern Siberia, the company announced Tuesday.

Industrial and Commercial Bank of China, the largest bank in the world by market capitalization, along with China Development Bank Corp., Bank of China and China Construction Bank, will "consider actively participating in the external project financing," of the LNG project, according to a Novatek statement....
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