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SINOPEC Joins Yamal LNG Project

Sinopec Novatek
AnnouncedJun 13, 2013
TypeProperty
Announced Date
June 13,2013
Close Date
June 13,2013
Transaction Type
Property




Snapshot
Asset/Basin:
{"Yamal Peninsula","South Tambeyskoye"}
Location
Country
Russian Federation


Transaction Details:  Subscribe to see

China's Sinopec is negotiating to join a $20 billion liquefied natural gas project run by Russia's Novatek, a source close to the talks said, which would be the biggest foray yet by a Chinese firm into Russia's Arctic.

An agreement, which could be signed as early as next week, would deal a blow to Russian state-controlled gas exporter Gazprom, which has yet to reach a supply deal with China and is being challenged by Russian rivals, who want the government to end its export monopoly for LNG.

Novatek currently owns 80 percent and France's Total 20 percent of the Yamal LNG project, which aims…

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