Silk Road Fund €1.087 billion acquisition of a 9.9% stake in Yamal LNG

Overview:

• China's Silk Road Fund acquired a 9.9% stake in the Yamal LNG project from Novatek, Russia's largest independent natural gas producer, for €1.087 billion.
• Following the deal Novatek now owns a 50.1% stake in the project, with Total and the China National Petroleum Corporation holding 20% each and the Silk Road Fund the remaining 9.9%.
• The Yamal LNG project involves the construction of a liquid natural gas plant drawing from the South-Tambeyskoye field in the Yamalo-Nenets Autonomous Okrug in Northern Russia, with an annual capacity of 16.5 million tons per annum.

Jon Moore - Journalist