Circumventing sanctions: Yamal LNG becomes a precedent

....1%), France’s Total (20%), CNPC (20%), and China’s Silk Road Fund (9.9%). The project’s proven and probable natural gas reserves are estimated at 926 billion cubic meters. Yamal LNG will have three lines, each with a capacity of 5.5 million tons for a total of 16.5 million tons annual production volume,... ... expected to become operational in 2017. The major shareholder of Novatek, Gennady Timchenko, happens to be a close friend of Russia’s President Vladimir Putin. In 2014 Novatek was put on the US sanctions list, which forbid financing the company. This greatly endangered the realization of the company’s projects, most ...