Novatek, the second-largest Russian producer of natural gas, signed a preliminary joint venture with China Petroleum Corp. and Gazprombank to trade liquefied natural gas on China's domestic market, Hellenic Shipping News Worldwide reported June 7. Novatek also formed a partnership with China National Petroleum Corp. and China National Offshore Oil Corp. to develop an Arctic natural gas facility; the two Chinese companies will hold 10 percent stakes a piece in the project, South China Morning Post reported June 6. The deal is part of $20 billion in deals covering a multitude of projects, including nuclear power, high-tech development and 5G communications, signed between Beijing and Moscow during and immediately before the June 6-8 St. Petersburg International Economic Forum. They also included increased Russian soybean exports to China, and discussions on a $153.3 million investment to create a joint agricultural holding company in Primorsky Krai in Russia's Far East.