Novatek in talks to sell stake in Yamal LNG to consortium
BY JAMES MARSON
MOSCOW -- OAO Novatek, is in "advanced talks" on selling a stake in its Arctic LNG project to a consortium of foreign companies, Novatek's CFO Mark Gyetvey said.
Speaking on a conference call, Mr. Gyetvey did not name the companies.
Novatek in June signed a framework agreement to sell a 20% stake in the Yamal LNG project to China National Petroleum Corp.
Total holds a 20% stake in the project, which is set to produce its first gas in 2017.
Dow Jones Newswires