Rospan expansion in jeopardy as Kremlin rejects funding plea

摘要

Rosneft’s proposed 12.4 Bcm/year expansion of the Rospan gas and condensate project in northern Russia is looking increasingly unlikely, as the Russian government has refused its request for assistance from the country’s USD 75 billion sovereign wealth fund. Economy minister Alexei Ulyukayev told reporters on Monday that Rosneft’s application for RUB 301 billion (USD 4.3 billion) to finance five projects - including the Rospan expansion - had been rejected.