Zhejiang Energy International Limited agreed to acquire 10% stake in Public Joint Stock Company Yakutsk Fuel and Energy Company (MISX:YAKG) from A-PROPERTI, OOO on January 19, 2022. In a related transaction Zhejiang Energy International Limited agreed to acquire 10% in Globaltec from A-Property. Under the preliminary terms of the deal, A-Property will handle the overall management of the project, including planning, construction and operations management.

The Chinese company will supply the project's liquefied natural gas (LNG) to the Chinese market under an offtake contract. The Yakutia gas project has received a valuation of €5 billion at the current stage. The overall price of the deal could amount to €500 million.

The transaction is expected to close in October 2022