Silk Road Fund to Obtain 9.9% Stake in Novatek's Yamal LNG Project

Reuters

MOSCOW, Sept 3 (Reuters) - Russia's second-biggest gas producer Novatek signed a framework agreement on Thursday for China's Silk Road Fund to obtain a 9.9 percent stake in its Yamal liquefied natural gas (LNG) project, the company said in a statement.

The deal, first discussed in August and worth an estimated $1.4 billion, was inked as part of a visit by President Vladimir Putin to Beijing to mark 70 years since the end of World War Two in Asia.

(Reporting by Denis Dyomkin; Writing by Jack Stubbs; editing by Polina Devitt)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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