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Chinese firms seeking stakes in Yamal LNG, Novatek

MOSCOW -- Chinese energy companies that are in talks with OAO Novatek about a stake in a LNG project in the Arctic -- Yamal LNG -- also want a stake in the Russian gas producer, Gennady Timchenko, a major shareholder in Novatek, reported.

"There are Chinese firms that want to buy Novatek shares. They are all asking, but we don' t have any shares available. We would have to sell our own, and we don' t want to," Interfax news agency quotes Mr. Timchenko as saying.

Novatek, Russia' s largest non state gas producer owns 80% of Yamal LNG in Russia' s Arctic. Total holds the remaining 20%. The project is expected to produce its first gas in 2017, with a peak annual capacity of 16.5 MMmt.

Dow Jones Newswires

04/29/2013

 

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