NOVATEK CAN $3.9 BLN

Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies.

Russia's No.2 gas producer, co-owned by an ally of President Vladimir Putin, Gennady Timchenko, was put on the Western sanctions list over Moscow's role in the Ukraine crisis, limiting its ability to raise funds in Western markets.

The government has pledged to support sanctions-hit companies irrespective of their shareholder structure, using National Wealth Fund as one of the options. Under the plan, NWF may buy bonds issued by some of such firms.

The Economy Ministry received Novatek's request for support in the amount of 100 billion to 150 billion roubles ($2.6-3.9 billion) - in line with the figures provided by Finance Ministry on Friday.

oilandgaseurasia.com