Novatek Closes Arctic LNG 2 Transaction

Novatek Closes Arctic LNG 2 Transaction

  • Novatek has closed the stake sale to wholly owned subsidiary of China National Petroleum Corporation, CNOOC and the consortium of Mitsui & Co and Japan Oil, Gas and Metals National Corporation (Japan Arctic LNG).

    «We now have formed the structure of the project’s participants by successfully closing the sale of interests in Arctic LNG 2», – said Chairman of the Management Board of Novatek Leonid Mikhelson.

    «The target level of Novatek’s participation has been reached and now it will allow to make the final investment decision and optimally use the company’s cash flow to finance our new projects», – he added.

    Now the participants in Arctic LNG 2 project are Novatek (60%),Total (10%), CNPC (10%), CNOOC (10%) and Japan Arctic LNG (10%).


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