Novatek estimates 20% of Yamal LNG for their sale to Chinese CNPC at $750 million

Novatek has estimated the 20% of Yamal LNG for the deal with CNPC at 24.3 billion rubles, the Russian company’s accounting under IAS for January-September of this year, published yesterday, says. This assessment was calculated on basis of the company’s costs for the project's implementation, the document reports. Novatek and CNPC came to an agreement on sale of 20% of Yamal LNG in September. The parties didn’t disclose the amount of the deal. According to the report, the transaction hasn’t been concluded yet, because all necessary approvals of regulating bodies haven’t been received. The Novatek’s Management expects that the deal will be concluded before the end of the month. Today Novatek owns 80% in Yamal LNG and Total – 20%.