The intergovernmental document needs to agree on a contract with the requirement of the law prohibiting foreign companies from owning more than 25% of the Russian strategic enterprises. The shareholders of “Yamal LNG” NOVATEK are with a share of 60%, China’s CNPC and France’s Total — 20%.
MOSCOW, 29 Jan. The President of Russia Vladimir Putin signed the law on ratification of the Protocol to the Russian-Chinese intergovernmental agreement with China on the acquisition of Chinese state silk road Fund 9,9% of shares of OAO “Yamal LNG”, the official portal of legal information.
The Protocol was signed on 17 December 2015. The implementation of this transaction, according to the government, will provide the Fund investment in Russia worth more than $ 2 billion.
“To ratify the Protocol to the agreement between the government of the Russian Federation and the government of the people’s Republic of China on cooperation in the sphere of implementation of the project “Yamal LNG”, — the document says.
The intergovernmental document needs to agree on a contract with the requirement of the law prohibiting foreign companies from owning more than 25% in strategic companies of the Russian Federation. Now the shareholders of “Yamal LNG” NOVATEK are with a share of 60%, China’s CNPC and France’s Total — 20%. Thus, according to the results of the transaction in China may be a 29.9% stake in the project.
The contract of purchase and sale of shares of Yamal LNG and NOVATEK between the silk road Fund should contain a paragraph about the attraction of long-term loan. In the framework of attracting financing in the amount of at least $ 16 billion the project lenders will be made certain commitments, indicated in the justification for the law.
The head of NOVATEK Leonid Mikhelson, on 18 January said that the project “Yamal LNG” is going according to plan, the deal with the Foundation of the silk road should be closed in the next few weeks after the Protocol’s ratification in the state Duma. The Duma ratified the Protocol on January 26.
The project “Yamal LNG” involves the construction of a plant with a capacity of 16.5 million tons of liquefied natural gas per year on the resource base of Yuzhno-tambeyskoe Deposit. The total project cost and 26.9 billion. The first phase of the plant is expected to be launched in 2017.