Novatek, China’s Silk Road Fund finalize Yamal LNG stake sale

Yamal LNG (Image courtesy of Novatek)

Russia’s largest independent gas producer Novatek said Tuesday it has completed the sale of a 9.9% equity stake in the $27 billion Yamal LNG project to China’s Silk Road Fund. The deal is worth 1.08 billion euros ($1.2 billion).

Following the deal completion, Novatek owns a 50.1% stake in the giant LNG project, while Total and CNPC have 20% each.

Earlier in December 2015, as part of the transaction, Novatek received a 15-year loan worth about 730 million euros from SRF for the financing of the Artic LNG project.

Yamal LNG project includes the construction of a liquefaction plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field.

The production from the LNG project is scheduled to start in 2017.

1 Euro = 1.1118 U.S. dollars

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

6th Mozambique Gas Summit & Exhibition

The CWC Group and ENH would like to thank all attendees, speakers, sponsors and exhibitors…

read more >

LNG2019

LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association…

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

Meet with the Gas, LNG & Power Industry in Brazil & the Americas

read more >

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >