Russian President Vladimir Putin has signed a law ratifying the protocol on cooperation with China on the Yamal LNG project and the development of other joint initiatives in the field of liquefied natural gas.
The document was signed in Moscow and Beijing on December 27, 2024. According to Alexander Sinenko, Plenipotentiary Representative of the Government in the State Duma, it establishes additional conditions for bilateral cooperation in the LNG industry.
The ratification takes place against the background of negotiations on expanding the presence of Chinese companies in Russian LNG projects. In May 2025, Energy Minister Sergei Tsivilev said that China was discussing the possibility of joining Novatek's new projects. Deputy Prime Minister Alexander Novak clarified that the Chinese side had already expressed interest in participating in the LNG terminal under construction in Ust-Luga - its operator is Ruskhimalyans, owned by Gazprom and Rusgazdobycha.
China is already involved in both of Novatek's existing large-scale LNG projects. In Yamal LNG — the second largest Russian LNG project based on the South Tambey field resource base — CNPC owns a 20% stake, the Silk Road Fund owns 9.9%, and Novatek retains a controlling stake of 50.1%. In Arctic LNG — 2, CNPC and CNOOC participate with shares of 10% each — the project provides for three production lines with a capacity of 6.6 million tons of LNG per year each.
