Deputy CEO says Novatek may sell more stakes in Arctic LNG-2

MOSCOW, Jul 25 (PRIME) -- Russian independent gas producer Novatek may sell stakes in its liquefied natural gas (LNG) project Arctic LNG-2 to other investors besides the ones who bought 40% in the project, Deputy CEO Mark Gyetvay said in a conference call on Thursday.

“Arctic LNG-2 has finished creation of an investor structure for the project after selling 40% in the project to Total, CNPC, CNOOC, and a consortium of Mitsui and JOGMEC. This structure was our strategic goal, and we can focus now on making a final investment decision and on the structure of financing,” he said.

“We welcome the possibility of expanding the numbers of states that partake in our LNG projects. We are still considering other potential partners in this project that would change the game rules besides the 40% that were sold. If any other partner decides to join the project after we make a final investment decision, we will consider this possibility, but at a higher value of the project.”

The Arctic LNG-2 plant will be launched in 2023–2025 and fields of the Gydan Peninsula in the north of West Siberia will become its resource base.

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