Russia’s Novatek Hits Major Milestones In Arctic LNG Plans

Russian gas producer Novatek closed on Monday the sale of stakes in its Arctic LNG 2 project, just days after Russia’s government approved the construction of a liquefied natural gas (LNG) transshipment terminal that would help Novatek boost LNG exports from its operating and future LNG projects. Novatek, the largest Russian producer and exporter of LNG, announced today the closure of the stake sales to two Chinese companies and a Japanese consortium. In April, Novatek signed agreements with two Chinese companies, under which the Asian firms…