Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +3 2 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  30.3.2020  
C(2020 ) 2057 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M. 9742  – SINOPEC  GROUP / JOINT STOCK COMPANY 
NOVATEK / GAZPROMBANK / SINOVA NATURAL GAS COMPANY  
Commission decision pursuant to Article 6(1 )(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 4 March  2020 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which Sinopec Gas 
Company Limited  (China ) (“Sinopec Gas”) , belonging to the China Petrochemical 
Corporation  (“Sinopec Group”), Novatek Asia Development Holding PTE. LTD 
(Singapore) (“Novatek Asia”), controlled by Joint Stock Company Novatek 
(“Novatek ”) and Joint Stock Company Gazprombank -Asset Management Combined 
Closed -End Mutual Fund “GAZPROMBANK – ARCTURUS” (Russia) 
(“Gazprombank Asset Management”), controlled by Joint Stock Company 
Gazprombank (“Gazprombank”)  acquire within the meaning of  Article 3(1)(b) and 
3(4) of the Merger Regulation joint control over the whole of the undertaking 
SINOVA Natural Gas Company Limited (China) (the “JV”)  by way of purchase of 
shares .3 
2. The business activities of the undertakings concerned are:  
 Sinopec Gas i s mainly active in the construction and operation of liquefied natural 
gas (“LNG”) projects and natural gas projects and the sale of LNG and natural 
gas. Sinopec Group  is active in the  oil and gas industry,  
 Novatek  Asia is mainly active in equity holdings of Novatek’s joint venture 
projects and in investments in gas and power business and/or infrastructure 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 88, 17.3.2020 , p. 6. 

2 projects in Asia.  Novatek is active in  the exploration, production, processing and 
marketing of natural gas and  liquid hydrocarbons in Russia and abroad , 
 Gazprombank Asset Management is mainly active in asset management for 
institutional investors. Gazprombank  provides a wide range of banking and 
financial services, particularly in such sectors as natural gas, oil, petrochemicals 
and power , 
 The JV is envisaged to be active in the import and export, as well as purchase and 
sale, of natural gas (including pipelin e gas and LNG) and investment in natural 
gas related projects in China.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5(a) of the Co mmission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified op eration and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .