Russia and China strengthen energy ties
Two agreements signed in Beijing 3 September serve to strengthen energy ties
One will give Silk Road Fund a 9.9% stake in the Novatek-operated 16.5m metric tonnes a year (t/y) Yamal LNG project. The other sets out plans to set up a working group to establish the key technical and commercial parameters of the Power of Siberia gas pipeline project, including the terms of delivery as well as a gas delivery point. Novatek’s statement put no value on the Novatek stake, which would leave the seller with 50.1%, the other partners being French Total – which also owns a minority stake in Novatek – and China National Petroleum Corp (CNPC), both of which have 20%. A range of sanctions imposed on Russian entities and individuals by western governments following Moscow’s involvem
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
