Novatek Co-owner Says CNPC Not Planning to Increase Stake in Yamal


MOSCOW, May 8 (Reuters) – Gennady Timchenko, the co-owner of Russia's second largest gas producer Novatek, said on Friday China National Petroleum Corp (CNPC) was not planning to increase its stake in the Yamal LNG project.

"It does not plan to increase any share," Timchenko told Reuters. Asked if Novatek was in talks with others, he said: "It is not clear as yet. We are talking to many (people)."

CNPC owns a 20 percent stake in the Yamal project along with France's Total.

(Reporting by Vladimir Soldatkin, writing by Elizabeth Piper, editing by Katya Golubkova)

Copyright 2017 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
Office Manager
Expertise: Asset Management|Operations Management|Secretarial or Administrative
Location: Von Ormy, TX
Technical O&M Advisor - LNG - Direct Contract or W2
Expertise: Process Engineer
Location: Houston, TX
Sr. Analyst - Mobile & Application Development
Expertise: IT - Programming & Database|IT - Software Development|Project Management
Location: Houston, TX
search for more jobs

Brent Crude Oil : $50.64/BBL 0.62%
Light Crude Oil : $48.04/BBL 1.47%
Natural Gas : $3.01/MMBtu 2.58%
Updated in last 24 hours