Big news in energy project finance this week, with a mega-project that no one thought could succeed coming through with a massive finance package. That’s the Yamal liquefied natural gas (LNG) export terminal in northern Russia. A multi-billion dollar development that appeared dubious just a few months ago — as sanctions against Russia seemed to be preventing project financing from going forward. But Yamal’s Russian owners confirmed over the weekend that they have just put together a significant portion of the funds needed to build the terminal. These funds have come from a place where sanctions have little meaning — China. Yamal’s Director General said that the project consortium signed a loan agreement Friday with China Exim Bank and the China Development Bank . With these banks offering to extend a 15-year loan to the project in the amount of 9.3 billion euros. That’s about 75 percent of the […]