Silk Road Fund to acquire stake in Novatek’s Yamal LNG project

Russia’s Novatek and China’s Silk Road Fund (SRF) have concluded a framework agreement on the acquisition by SRF of a 9.9% equity stake in the Yamal LNG project.

According to the agreement, the transaction is scheduled to close after the satisfaction of stipulated conditions precedent, including the receipt of all necessary approvals. Following the completion of the deal, the shareholder structure of OAO “Yamal LNG” will be as follows: OAO NOVATEK (50.1%), Total SA (20%), CNPC (20%), and SRF (9.9%).

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.

 

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