CNOOC subsidiary due 10% interest in Arctic LNG 2

CNOOC Ltd. and its subsidiary CEPR Ltd. have signed an agreement with Novatek and Ekropromstroy LLC, a wholly-owned subsidiary of JSC Novatek, to acquire a 10% equity interest in Arctic LNG 2 LLC.

Jun 7th, 2019

CNOOC Ltd. and its subsidiary CEPR Ltd. have signed an agreement with Novatek and Ekropromstroy LLC, a wholly-owned subsidiary of JSC Novatek, to acquire a 10% equity interest in Arctic LNG 2 LLC.

Novatek plans three liquefaction trains at the 19.8 million-tonne/year Arctic LNG 2 project near Russia’s Gydan Peninsula with capacities of 6.6 million tpy each on gravity-based structure platforms. Gas will come from Utrenneye field.

Closing of the deal, expected “in the near future,” CNOOC said in a press statement, is subject to approval of relevant government authorities of China and Russia and satisfaction of certain other conditions.

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