Sinopec may join the project “Yamal LNG” soon

The Chinese Sinopec holds negotiations on joining the project “Yamal LNG”, realized by the Russian gas producer “NOVATEK” together with the French Total. The parties may sign the appropriate agreement next week, Reuter’s reports, citing the sources familiar with the matter. Another source stated that NOVATEK and Sinopec may sign the relevant documents next week.

But the sources did not mention which share  of the stock the Chinese company is going to purchase.

According to one of the sources of the agency, Sinopec has been chosen as a partner in the “Yamal LNG” project, as it is going to buy liquefied gas (it is building a terminal in China for the import of 3 million tons of liquefied gas a year). NOVATEK needs more than just investors. It needs partners, which can participate in the marketing and sales of the gas,” the source noted.