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Total increases stake in Novatek to 16%

BY JAMES MARSON

MOSCOW -- Total has increased its stake in Novatek to 16%, Novatek said in a statement.

Total took a 12% stake in Novatek in 2011, saying it would increase its share up to 19.4% in three years. Novatek' s main shareholders are its Chief Executive, Leonid Mikhelson, and oil trader Gennady Timchenko.

Total also holds a 20% stake in Novatek' s Arctic LNG project, Yamal LNG. Novatek signed a deal to sell a 20% share in that project to CNPC.

Dow Jones Newswires

06/27/2013

 

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