Novatek Close to Pick Final Yamal LNG Partner – Paper


MOSCOW, Sept 26 (Reuters) – Russia's largest independent gas producer Novatek is close to picking a third partner for its Yamal LNG project, with a Japanese and an Indian consortium vying for the spot, the daily Vedomosti reported on Thursday.

The paper, citing sources close to the Yamal project, said that Japan's Mitsui and Mitsubishi Corporation and an Indian consortium between ONGC Videsh, the Indian Oil Corporation and Petronet LNG are interested in the 10 percent stake that's left in the project.

In early September, Novatek secured preliminary backing from leading Chinese banks for the $20 billion Arctic Yamal LNG project.

It would be the first Russian plant built since Gazprom, the world's top producer of conventional gas, launched its Sakhalin-2 facility in 2009. It would also bring Novatek a step closer to breaking Gazprom's monopoly.

Copyright 2016 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Senior Downhole Mechanical Tech - 1 Year Contract - Houston, TX
Expertise: Mechanical Technician
Location: Houston, TX
Slot Saw Operator - D-Shift
Expertise: Machinist|Mechanical Technician|Welding
Location: Lodi, CA
Slot Saw Operator - C-Shift
Expertise: Machinist|Mechanical Technician|Piping Technician
Location: Lodi, CA
search for more jobs

Brent Crude Oil : $49.98/BBL 1.59%
Light Crude Oil : $49.18/BBL 1.56%
Natural Gas : $2.73/MMBtu 1.44%
Updated in last 24 hours