The chief of Novatek G. Timchenko has discussed in China Yamal LNG project and gas supplies

The chief of Novatek G. Timchenko and the chief of CNPC Zhou Jiping have discussed at their meeting in Beijing LNG supplies to China and managing and financing of Yamal LNG project where CNPC holds 20%. Both sides are eager to activate their efforts for the execution of the agreements within the coordinated time period.

CNPC and Novatek signed the agreement about purchase of the shareholding in Yamal LNG in September 2013. The transaction was closed at the beginning of 2014. Under the contract terms, CNPC was liable for promotion of the financing of the project with the help of the Chinese banks. They also closed the long-term contract for annual supplies of 3 million tons of LNG to China.