Italy’s biggest banking group Intesa Sanpaolo is likely to fund Russia’s Novatek’s Arctic LNG 2 Project even when some European governments are cold towards the project.
On Wednesday, Antonio Fallico, Chairman of group unit Banca Intesa Russia, said that the bank was invited by Italian export credit agency SACE to look at the financial deal. It is now studying the documents and no decision has been taken.
Fallico stated that if the bank deemed that the project does not breach its policy in some way, it would do it.
On a related note, the Chairman said that Banca Intesa was also looking at funding projects in Russia to establish hydrogen production plants.
