China, Russia sign energy deals
China and Russia signed nearly 30 cooperation documents including a series of energy deals during Russian President Vladimir Putin’s stay in Beijing to attend China’s V-Day celebrations.
Among the deals, Russia’s second-biggest gas producer Novatek signed a framework agreement for China’s Silk Road Fund to obtain a 9.9 percent stake in its Yamal liquefied natural gas project, the company said in a statement. The deal is worth an estimated $1.4 billion.
The Yamal project is the Silk Road Fund’s first investment in Russia. Novatek holds 60 percent of the shares, while French company TOTAL and China National Petroleum Corpeach hold 20 percent. They have invested more than $10 billion in total.