Novatek Sells Stake in Arctic LNG

Maritime Activity Reports, Inc.

April 26, 2019

Photo: Novatek

Photo: Novatek

Russia's Novatek said on Friday it had sold a 20 percent stake in its new liquefied natural gas project, Arctic LNG 2, to two Chinese companies on the same terms as a similar deal with France's Total.

Novatek announced the sale on Thursday but did not provide financial details.

Earlier this year, Total, a shareholder in Novatek itself and its Yamal LNG project, bought a 10 percent stake in Arctic LNG 2 project. 

(Reuters, Reporting by Maria Tsvetkova and Maria Grabar, Writing by Andrey Kuzmin, Editing by Louise Heavens)

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News