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NOVATEK, CNPC to ink agreement within SPIEF

A source close to the deal claims China’s Sinopec might offer to NOVATEK long-term guarantees for purchase of up to five million tonnes of liquefied natural gas

Photo ITAR-TASS

Photo ITAR-TASS

ST. PETERSBURG, June 21 (Itar-Tass) - Russia’s NOVATEK and China National Petroleum Corporation (CNPC) plan to sign an agreement in the format of the St. Petersburg International Economic Forum (SPIEF) on Friday, Russian Energy Minister Alexander Novak told reporters on the sidelines of the forum.

“Russia’s NOVATEK will sign an agreement with CNPC,” he said.

In the mean time, a source close to the deal told Itar-Tass that China’s Sinopec might offer to NOVATEK long-term guarantees for purchase of up to five million tonnes of liquefied natural gas in exchange of a share of participation in the Yamal LNG project.

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