Russia’s Arctic LNG 2 (liquefied natural gas) project is set to receive all the planned external financing, as foreign lenders have reportedly pledged to provide about $9.5 billion in financial support.

The long list of lenders includes Chinese and Japanese banks as well as European credit and insurance firms, according to a document seen by Reuters. Asian peers are reported to have the most generous offers, with the China Development Bank providing $5 billion and the Japan Bank for International Cooperation (JBIC) offering $2.5 billion.

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French state investment bank and credit agency Bpifrance and German credit insurance firm Euler Hermes are looking to provide $700 million in credit finance and $300 million respectively. Italian Export Credit Agency SACE plans to put $1 billion into the project, while an unnamed Russian bank is reportedly considering a $1.5-billion investment. (RT)