News

04.07.2014

The official Letter of Interest received from the ExIm Bank of the US on Project YAMAL financing

The official Letter of Interest received from the ExIm Bank of the US on Project YAMAL financing

Corporation Energy actively cooperates with Halliburton on Project YAMAL within the framework of the recently signed contract on the first stage of project works.

At the beginning of 2014 Export-Import Bank of the United States expressed interest in providing trade financing within the cooperation of the parties. The US bank re-confirmed its interest by its official letter sent to Halliburton and Corporation Energy on July 3, wherein the bank had indicated its intention to provide trade financing – to finance the works involving the usage of US equipment and bringing in the newest technological solutions.

Currently the work on allocation of $50 mln financing is being held, the parties are also negotiating on the precise financing form (either direct loan or guaranteed loan). Within the negotiation process the discussions take place with several commercial banks on the matter of their potential participation in the project as an intermediary bank.

A meeting in Washington D.C., USA is planned in the nearest future to further discuss the terms of the cooperation.