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Commodities

Novatek sells stake in Arctic LNG to Chinese firms on same terms as Total deal

FILE PHOTO: The logo of Russian gas producer Novatek is seen on a board during the St. Petersburg International Economic Forum 2017 (SPIEF 2017) June 1, 2017. REUTERS/Sergei Karpukhin/File Photo

MOSCOW (Reuters) - Russia’s Novatek said on Friday it had sold a 20 percent stake in its new liquefied natural gas project, Arctic LNG 2, to two Chinese companies on the same terms as a similar deal with France’s Total.

Novatek announced the sale on Thursday but did not provide financial details.

Earlier this year, Total, a shareholder in Novatek itself and its Yamal LNG project, bought a 10 percent stake in Arctic LNG 2 project.

Reporting by Maria Tsvetkova and Maria Grabar, Writing by Andrey Kuzmin, Editing by Louise Heavens

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