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Novatek to consider China's CNPC as Arctic LNG-2 shareholder

VLADIVOSTOK, (Reuters) - Russia’s Novatek is considering China’s CNPC as a potential shareholder in its Arctic LNG-2 project, Leonid Mikhelson, the firm’s chief executive officer said.

Novatek is also in talks with Saudi Aramco over a possible investment in the project, while Japan’s JOGMEC has shown interest as well, Mikhelson said at an economic forum in Vladivostok.

Mikhelson also said that the new LNG hub Novatek plans to build in Russia’s far eastern Kamchatka region would cut logistics costs to Asian markets by 7-10 percent.

Reporting Vladimir Soldatkin Writing by Tom Balmforth Editing by Louise Heavens


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Editorial Comment
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The US Energy Information Administration (EIA) reported in April that the US set records for natural gas production in 2017.
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Since market reforms first started in 1978, China has shifted from a centrally planned economy to a market-based economy, experiencing rapid economic and social development.
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-Eugene Gerden
Russia aims to ally with Qatar in LNG competition with Australia and other LNG-exporting majors over the coming years.


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