April 26, 2019 / 2:02 PM / a month ago

Novatek expects to close Arctic LNG deal with Chinese companies within two-three months

MOSCOW (Reuters) - Russia’s Novatek said on Friday that the company expects to close the sale of a 20 percent stake in its new liquefied natural gas project, Arctic LNG 2, to two Chinese companies within 2-3 months.

Novatek announced the sale on Thursday but did not provide financial details.

China National Oil and Gas Exploration and Development Company (CNODC) and CNOOC will each buy a 10 percent stake in the project, set to become Novatek’s third LNG plant in Russia.

Reporting by Maria Tsvetkova and Maria Grabar. Writing by Andrey Kuzmin. Editing by Louise Heavens

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