Sinopec Seen Joining Yamal LNG

摘要

Chinese state Sinopec could sign an agreement to take equity in Russia's 16.5 million tons/yr Arctic Yamal LNG project at the St. Petersburg International Economic Forum next week, Reuters reported, citing unidentified sources. The likely size of the stake was unclear but Sinopec is the one Asian firm that appears interested in receiving LNG cargoes from the project, which is led by independent Russian gas producer Novatek. Energy Intelligence reported in April that Sinopec signed a nonbinding memorandum of understanding (MOU) to take Yamal LNG volumes, although company sources said it only did so under government pressure (WGI Apr.24'13).