Russia’s Novatek Sells 20% In Arctic LNG 2 To Chinese Firms

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Russian gas producer Novatek said on Thursday that it had signed agreements with two Chinese companies, under which the Asian firms will become shareholders in the Arctic LNG project with 10 percent each.

Novatek, the largest Russian producer and exporter of liquefied natural gas (LNG), signed an agreement with CNOOC and another deal with China National Oil and Gas Exploration and Development Company (CNODC), a wholly owned subsidiary of China National Petroleum Corporation (CNPC). CNOOC and CNODC will enter the Arctic LNG project with a 10-percent participation interest each….

An excerpt from Oilprice