Yamal LNG project gets 150b roubles in state assistance

Moscow

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 that it had allocated 150 billion roubles (S$3.3 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 US$5 billion.