Yamal LNG: 9.9% Sold Stake to China's Silk Road Fund

OAO NOVATEK announced today the closing of a transaction to sell a 9.9% equity stake in the Yamal LNG project (“Project”) to China’s Silk Road Fund (“SRF”) for a payment amounting to EUR 1,087 million.

Following the deal completion, the shareholder structure of the Project is as follows: OAO NOVATEK – 50.1%, Total S.A. – 20%, CNPC – 20%, SRF – 9.9%.

Earlier in December 2015, as part of the transaction, NOVATEK received a 15-year loan from SRF for the purpose of financing of the Project.