OAO NOVATEK announced the signing of binding definitive agreements as part of a transaction for selling an equity stake in the Yamal LNG project to China’s Silk Road Fund (SRF).
In particular, the parties signed a share purchase and sale agreement in relation to a 9.9% equity stake in Yamal LNG. The closure of the transaction is subject to certain amendments to the intergovernmental agreement between Russia and China coming into force.
The parties also signed an agreement for the provision of a 15-year loan by SRF to NOVATEK in the amount of approximately EUR 730 million for the purpose of financing of the Yamal LNG project. The larger part of the loan has been disbursed to Yamal LNG.