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