Crédit Agricole CIB acted as financial advisor to Novatek for the development of the very large and ambitious Yamal LNGLiquefied natural gas project in Russia with multi-billion euros development costs.

The scope of Crédit Agricole CIB’s assignment included:

• the selection of strategic partners. On October 6th, 2011, Novatek closed the sale of a 20% participation interest in Yamal LNG to the French group Total.
• the bankability study evaluating the issues relating to the anticipated project financing of Yamal LNG.

This milestone project includes the construction of production, storage and loading facilities for LNG in the South-Tambeyskoye field, located in the Yamal’s artic area. The field’s resources should allow production of more than 15 million tons of LNG per year. The launch of the first train of the LNG plant is scheduled for 2016.

"Crédit Agricole CIB has been involved in the project since its beginning two years ago. Through its involvement, Crédit Agricole CIB demonstrates its unique expertise in the oil&gas industry and the joint fruitful cooperation of its transversal experienced teams, both in the field of mergers and acquisitions and project finance advisory. Global Investment Banking (Moscow and Paris), Global Energy Group (Paris), Structured Finance Advisory (London) and Novatek’s coverage team (Moscow) all made a significant contribution to the success of this highly visible transaction," comments François Martin, Head of Global Energy Group.

"Novatek is a long-term client of the Bank. We are pleased to offer our deep expertise in the LNG sector to achieve this landmark project for Novatek," adds Olga Ikhlef, Senior Banker.

Novatek is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons.