China, Rus­sia sign energy deals

China Daily (Canada) - - NEWS CAPSULE -

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.

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