Bill on ratification of Protocol to Russia-China Agreement under Yamal LNG project presented to State Duma
The Bill on ratification of the Protocol to Russia-China Cooperation Agreement under Yamal LNG project has been presented by RF Government to the State Duma.
According to the Government’s press center, the Protocol was signed on December 17 in Peking.
The Bill has been approved by the Ministry for Foreign Affairs and the Ministry of Energy of the Russian Federation.
The ratification will let attract additional financing of the project from the international banks, the statement says.
The Bill was considered and approved by RF Government on January 21, 2016.
Yamal LNG project envisages the construction of an LNG plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field. According to the PRMS reserve standards, the proven and probable reserves of the South-Tambeyskoye field as of 31 December 2014 were appraised at 926 billion cubic meters of natural gas. The Project is currently at the active construction stage.
Silk Road Fund is a $40 billion medium to long term investment fund established in Beijing in December 2014. It makes outbound investment through both equity and debt financing. The fund focuses on infrastructure, energy, industrialization and financial cooperation that are vital to the connectivity of the Chinese economy with the rest of the world.
OAO NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s gas production and approximately 16% of the world’s gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».
