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History of the project and plan for its development

History of the project

Up to now the following key events are realized:

Term sheets from leading Russian and international financial institutions for project financing of up to 75% of project's budget were received.

Letters of intent from investors from Japan, South Korea and China regarding equity financing were received. Currently negotiatiating the terms.

Off-take term sheets for the amount exceeding Stage 1 product (methanol) production by more than 3 times, were received and signed in 2017.

Application for PDA status was submitted on October 2017. PDA status is expected to be received by the end of 2017.

The 20-year Contract for annual supply of natural gas in the volume of 3.15 bcm is signed with Gazprom Group.

A land lease agreement for the area of about 628 Ha was concluded.

The EPC-Contract was concluded with the consortium of international contractors on September 03, 2016 at the site of the Eastern Economic Forum.

On December 16, 2016, a tripartite Memorandum of Understanding was signed between Vnesheconombank, Japan Bank for International Cooperation (JBIC) and NFP with regard to financing the project at the site of the Russian-Japan Summit held in Tokyo (Japan).


Future development of the project

Financing

Involvement of potential international partners to the project. Signing of credit documentation and launch of the project financing since the 1st quarter of 2018.

Engineering

Engineering, FEED and the state expertise of the project within the EPC–Contract.

Construction and installation of equipment

2018—2022. Implementation of works within the EPC–Contract.

Staged launch of production

2020—2022. Completion of final technical works in the complex. Staged launch of production capacities. NFP’s attainment to full production capacity in the middle of 2022.