Yamal LNG
Novatek to sell Yamal LNG stake: Russia’s largest privately- owned gas producer Novatek has decided to sell a 9% stake in the mammoth Yamal LNG project in north-west Siberia, its co-owner Leonid Mikhelson has told Kommersant. According to analysts, the list of potential buyers includes existing shareholders France’s Total and China’s CNPC, as well as interested parties from Japan, India and South Korea. The stake that is being put up for sale is likely to be valued at between $190m and $210m.
Novatek currently owns a 60% shareholding in the project, with the remaining 40% divided equally betweenTotal and CNPC. An LNG plant with an annual capacity of 16.5m tons of liquefied gas is scheduled for completion by 2017.
Source: rbth