NOVATEK, Mitsui & JOGMEC Sign Sale Agreement for Arctic LNG 2 Stake

Source: www.gulfoilandgas.com 6/30/2019, Location: Asia

NOVATEK and the consortium of Mitsui and Japan Oil, Gas and Metals National Corp (JOGMEC) have signed a Sales and Purchase Agreement to purchase a 10% participation interest in the Arctic LNG 2 project. The participation in the Project also provides for the long-term LNG offtake of approx. two million tons per annum by the Japanese partners. The Agreement will close in the nearest future subject to regulatory approvals.

'We welcome the consortium of Mitsui and JOGMEC as partners in our Arctic LNG 2 project,' noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. 'Japan has 50 years of experience with importing LNG and is one of the largest LNG consuming countries.

Moreover, Japanese companies have extensive experience in implementing LNG projects as well as marketing LNG around the world. The entry of Japanese partners into Arctic LNG 2 will contribute to its successful implementation'.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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