- Total, Shell shortlisted for Yamal LNG project - Gazprom
- Total to buy 12% of Russia's Novatek for $4 bln
- Gazprom in talks with Novatek on joint LNG project in Siberia
- Total's 49% stake in $1bln gas field project in Siberia approved
Russia's biggest independent natural gas producer Novatek has executed an option to buy a 25.1% share in Yamal LNG, a company operating a Yamal liquefied natural gas project in the Arctic, for $526 million, Novatek said in a statement on Thursday without disclosing the seller.
The option is valid until July 1, 2012, it said in a statement.
The probable seller is Cyprus' Varix Enterprises Ltd, controlled by gas giant Gazprom, which owns 25.1% in the project. Novatek currently holds 51% in Yamal LNG and has also recently received an option to buy a 23.9% share from Cyprus' Innecto Ventures Ltd owned by Russian businessmen Gennady Timchenko and Pyotr Kolbin, estimated at $750 million.
Earlier in March, France's major Total SA signed a deal to buy 12% of Novatek and 20% in the Yamal LNG project.
MOSCOW, March 24 (RIA Novosti)
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: North Pole: Living on the Top of the World
Infographics: Powerful Ship-Borne Laser System
Cartoons: Polar Explorer Day
The current contract portfolio of Russian arms exporters is worth about $46 billion. Annual exports total $15 billion, and this will ensure uninterrupted deliveries for the next three years, even in the worst-case scenario. The list of the main buyers of Russian weapons is unlikely to change drastically.