Kogas signs memo to consider acquisition of Arctic LNG-2 stake

MOSCOW, Jun 22 (PRIME) -- Russian gas producer Novatek and Korea’s Kogas signed a memorandum of understanding on joint development of liquefied natural gas (LNG) business on Friday with an option for Kogas to buy a stake in Arctic LNG-2 and buy its gas.

Kogas will also consider participation in a project of an LNG terminal on the Kamchatka Peninsula and in other infrastructure projects.

The memorandum also includes cooperation in LNG trade and optimization of logistics, including swap deals.

The Arctic LNG-2 plant will be launched in 2022–2025 and fields of the Gydan Peninsula in the north of West Siberia will become its resource base.

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