Novatek, China’s Silk Road Fund ink Yamal LNG deals

Russia’s Novatek said on Thursday it has signed definitive agreements for the sale of a 9.9% equity stake in the $27 billion Yamal LNG project to China’s Silk Road Fund (SRF).

The two companies also inked a deal under which SRF will provide a 15-year loan to Novatek worth about 730 million euros ($792 million) for the financing of the Artic LNG project. The larger part of the loan has been disbursed to Yamal LNG, Novatek said in a statement.

Chairman of the Management Board of Novatek, Leonid V. Mikhelson said that the signing of the binding agreements is “another important step in the execution of the company’s long-term development strategy“.

“With the closure of this transaction we will achieve the appropriate target shareholder structure, which will contribute to the planned financing of the project and further facilitate its successful implementation,” Mikhelson added.

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.

Novatek now owns a 50.1% stake in the LNG project, while France’s Total and China’s CNPC hold 20% each.


LNG World News Staff



Share this article

Follow LNG World News


<< Sep 2019 >>
26 27 28 29 30 31 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 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >