On September 5 in Saint Petersburg, witnessed by Chinese President Xi Jinping and President of Russian Federation Vladimir Putin during the G20 summit, CNPC Chairman Zhou Jiping and Alexey Miller, Chairman of the Gazprom Management Committee signed a framework agreement on pipeline gas supply from Russia to China via the eastern route. The agreement has stipulated legally binding terms such as supply volume, supply condition, and the take-or-pay level.

At the same occasion, Mr. Zhou Jiping and Leonid V. Mikhelson, Chairman of the Management Board of NOVATEK, also signed an agreement on purchase of a 20% equity share in the Yamal LNG project by CNPC.​

About Yamal LNG project
Yamal LNG project envisages the construction of an LNG plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field. According to the PRMS reserve standards, the proven and probable reserves of the South-Tambeyskoye field as of 31 December 2012 were appraised at 907 billion cubic meters of natural gas. The Project also requires the construction of transport infrastructure including a sea-port and an airport located at Sabetta (north-east of the Yamal Peninsula).

About OAO NOVATEK
OAO NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 90% of Russia’s natural gas production and approximately 17% of the world’s gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol «NVTK».

About CNPC
CNPC is China's largest oil and gas producer and supplier, as well as one of the world's major oilfield service providers and a globally respected contractor in engineering construction. CNPC has presence in 70 countries.

About CNPC and Gazprom
CNPC is China's largest petroleum company wholly-owned by the state and is one of the world's leading integrated oil and gas production companies.
In October 2009 Gazprom and CNPC inked the Framework Agreement on the major terms and conditions of natural gas supplies from Russia to China. The Agreement stipulates annual exports of up to 68 billion cubic meters of gas to the Chinese market.
In March 2013 Gazprom and CNPC signed the Memorandum of Understanding for cooperation between the two companies in pipeline gas deliveries to China via the eastern route.

See the site of Yamal LNG