The Yamal LNG project is owned by Russia's Novatek (50.1 percent), France's Total (20 percent).

Additionally, CNPC signed up to a 20-year off-take agreement, covering 3 million tons per annum (mtpa) of Yamal LNG’s production, indexed to the Japanese Crude Cocktail (JCC) price, the leading LNG pricing benchmark in Asia. The Export-Import Bank of China (China Eximbank) and the China Development Bank (CDB) also provided loans, of $10.4 billion and $151 million in 2016. This came on top of a $4 billion loan from Russian funding.