NOVATEK Closes Arctic LNG 2 Transaction

Source: www.gulfoilandgas.com 7/22/2019, Location: Asia

PAO NOVATEK announced the closing of the sale of participation interests in Arctic LNG 2 Project (“Project”) to wholly owned subsidiary of China National Petroleum Corporation (“CNPC”), wholly owned subsidiary of CNOOC Ltd. (“CNOOC”), and the consortium of Mitsui & Co and Japan Oil, Gas and Metals National Corporation (“Japan Arctic LNG”).

“We now have formed the structure of the Project’s participants by successfully closing the sale of interests in Arctic LNG 2,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board.

“The target level of NOVATEK’s participation has been reached, allowing us to make the final investment decision and optimally use the Company's cash flow to finance our new projects”.


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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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