The government brought in the draft law about ratification of the protocol on the project «Yamal LNG» to the State Duma
14:45 22 января 2016
Категории: News in English
The government of Russia brought in the draft law about ratification of the protocol to the agreement between Russia and China about cooperation on fulfillment of the project «Yamal LNG» to the State Duma of the Russian Federation. This information was given on the website of the Cabinet of Ministers.
As it is stated in the cover letter, obligations of the Russian side on the protocol will allow involving additional external financing from international banks into the project «Yamal LNG». The protocol also provides confirmation of Russian obligations on acquisition of bonds issued by «Yamal LNG» at the expense of the Russian National Wealth Fund.
As we should remind, the government of the Russian Federation approved the draft law about ratification of the interdepartmental protocol with China about purchase of 9.9% of shares in the project «Yamal LNG» by the Chinese Silk Road Fund. The agreement of buy and sell was signed a month ago; closing of the transaction is being expected during the coming weeks. When transaction is closed the structure of the shareholders of «Yamal LNG» will be changed the following way: NOVATEK (50.1%), Total (20%), CNPC (20%) and the Silk Road Fund (9.9%).