Report: Saudi Arabia ready to invest $5 bln in Arctic LNG-2

MOSCOW, Oct 23 (PRIME) -- Saudi Arabia has declared an intent to invest about U.S. $5 billion in Russian liquefied natural gas (LNG) project Yamal LNG, head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev told channel Rossiya 24 in an interview on Tuesday.

“The energy minister of Saudi Arabia notified us of a possible investment of about $5 billion in the project Arctic LNG-2,” Dmitriev said.

Russian independent gas producer Novatek and Saudi Aramco signed a memorandum of understanding to cooperate in deliveries of LNG, as well as geological exploration and production of gas, in February.

Novatek is in negotiations with Saudi Aramco on acquisition of a stake in Arctic LNG-2, CEO Leonid Mikhelson said in September.

End