Total to get 10 pct in Russia's Arctic LNG-2 Project

Posted by Joseph Keefe
Thursday, May 24, 2018
French energy major Total will get a 10 percent stake in the future Arctic LNG-2 project led by Novatek, Novatek Chief Executive Leonid Mikhelson said on Thursday.
The entire project has been valued at $25.5 billion, Mikhelson told reporters, adding the deal was expected to close in the first quarter of 2019.
Total has an option to increase its stake in Arctic LNG-2 by a further 5 percent if Novatek decides to reduce its stake below 60 percent, Mikhelson said. Novatek currently plans to keep its stake in the project at 60 percent, he added.

Total owns almost 20 percent of Novatek shares.

Reporting by Oksana Kobzeva 

Categories: Arctic Operations Energy Environmental Finance Government Update LNG Offshore Energy

Related Stories

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Woodside Finds South Korean Partners to Advance LNG Value Chain

Woodside Finds South Korean Partners to Advance LNG Value Chain

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Fugro Expands Geotechnical Testing Capabilities in Indonesia

Fugro Expands Geotechnical Testing Capabilities in Indonesia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

Woodside to Shed Some Trinidad and Tobago Assets for $206M

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

Keel Laying for Wind Flyer Trimaran Crew Boat

Keel Laying for Wind Flyer Trimaran Crew Boat

Current News

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com