UPDATE 1-Novatek CEO sees no impact of U.S. sanctions on Yamal LNG

Среда, 26 марта 2014 14:11 MSK

* Gas production in 2014 to rise 7 pct from 62 bcm in 2013

* In talks with a wide range of banks for Yamal LNG

* Yamal LNG cost seen similar to Novatek's 56 cent/bbl net cost (Changes dateline, adds CEO's quotes on financing and gas cost)

By Meeyoung Cho and Jane Chung

GOYANG, South Korea, March 26 (Reuters) - Russian gas producer Novatek's $27 billion Yamal LNG project won't be impacted by recent U.S. sanctions against a shareholder of the company, its chief executive said.

The comments by Leonid Mikhelson come after the United States last week sanctioned Novatek shareholder and billionaire businessman Gennady Timchenko as an ally of Russian President Vladimir Putin over Russia's seizure of Crimea.

The sanctions prompted Timchenko to sell his near 50 percent stake in Swiss oil trading group Gunvor. Novatek's shares plunged 12 percent on Friday after the sanctions were announced on concerns about their impact on the company, but have recovered some ground since.

Mikhelson's comments on the sidelines of an international gas conference could offer assurance to investors and bankers that it's business as usual for Novatek's key project.

"I do not see any potential impact on Yamal LNG," Mikhelson said, when asked if he sees the sanctions hurting the progress of the project.   Продолжение...