Russia’s Novatek has signed a preliminary deal to create a joint venture with China’s Sinopec and Gazprombank to market LNG and gas to end users in China, Novatek said Wednesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Novatek operates the 16.5 million mt/year Yamal LNG plant in northern Russia, which has China’s CNPC (20%) and Silk Road Fund (9.9%) as shareholders. It is also partnering with CNPC and China’s CNOOC in developing the larger 19.8 million mt/year Arctic LNG 2 facility, with both Chinese companies holding 10% stakes in the project. “Chinese companies are investing in the development of Novatek’s LNG projects in the Arctic region of Russia,” CEO Leonid Mikhelson said. “Creating a joint venture to trade LNG and […]