Novatek and CNPC will close transaction on Yamal LNG before December 1

Novatek and CNPC will close transaction on Yamal LNG before December 1st, the chief of Novatek, L. Mikhelson says. At the beginning of September, Novatek and CNPC signed the binding agreement about entrance of CNPC into the Yamal LNG project. The contract for cooperation within the project was closed within the bounds of the St. Petersburg International Eeconomic Forum. The document presupposes the closure of a long-term contract for supplies to China of at least 3 million tons of LNG annually. The contract also binds CNPC to actively participate in attraction of external financing by Chinese financial institutions.

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