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2015-01-04 21:35:00

RUSSIAN LNG INVESTMENTS UP

RUSSIAN LNG INVESTMENTS UP

Russia announced state aid for a major energy project on Wednesday under a drive to shore up strategic firms as well as public faith in its banking system during an economic crisis deepened by Western sanctions.

The government said it had allocated 150 billion roubles ($2.5 billion) to support the Yamal liquefied natural gas (LNG) project in the Russian Arctic, taking the total bill for state aid promised to firms in the past few days to over $5 billion.

On top of the help for Yamal - which is controlled by the Novatek firm but also has Western and Chinese shareholders - Russia has announced support for the…

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Tags: RUSSIA, LNG, GAS, NOVATEK, VTB, GAZPROMBANK,
Chronicle:
RUSSIAN LNG INVESTMENTS UP
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