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Banks of France refused to participate in the project "Arctic LNG 2", media reported

French authorities and banks have refused to participate in the Russian Arctic LNG 2 project due to concerns about climate issues, despite the fact that one of its shareholders is the French Total (10%), according to the newspaper Tribune

According to the newspaper, the French state investment bank Bpifrance has not provided any credit financing for the project. According to a familiar newspaper source, commercial banks France also not involved in the project or its discussion.

“France will not support in the end”Arctic LNG 2“Amis de la Terre, SumOfUs and 350.org applaud the activity that led to this decision,” the Amis de la Terre website said in a statement.

In May, representatives of these three non-governmental organizations spoke at the building French Ministry of Economy v Paris against the possible support of the French authorities for the project of the oil and gas company Total for the production of gas in Arctic

As the NGO notes, this “victory” was preceded by a campaign that lasted more than a year.

Arctic LNG 2 – the second large-scale liquefied natural gas production projectNovateka” after “Yamal LNG“. Resource base – Morning field in Yamalo-Nenets Autonomous Okrug. The project plans to build three technological lines with a capacity of 6.6 million tons each (19.8 million tons of LNG per year). Shareholders – Novatek (60%), as well as French Total ( 10%), Chinese CNOOC (10%), a subsidiary of the Chinese CNPC – CNODC (10%) and a consortium of Japanese Mitsui & Co and JOGMEC – Japan Arctic LNG (10%).

Vice Prime Minister RF Alexander Novak at the end of May he said that there is now “a lot of hype” around the topic of environmental friendliness of this or that product.

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