Japanese trading house Mitsubishi Corp has decided not to invest in Novatek’s Arctic LNG 2 project after conducting comprehensive studies, reports Reuters quoting the company’s Chief Financial Officer Kazuyuki Masu as saying at a news conference on Thursday.
In July this year, Novatek sold stakes in Arctic LNG 2 to Chinese and Japanese investors, the 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).
Now the participants in Arctic LNG 2 project are Novatek (60%),Total (10%), CNPC (10%), CNOOC (10%) and Japan Arctic LNG (10%).
«We now have formed the structure of the project’s participants by successfully closing the sale of interests in Arctic LNG 2», – Chairman of the Novatek Management Board Leonid Mikhelson said then.