Novatek's Yamal LNG project during its construction phase. (Novatek)
China’s two biggest LNG buyers have agreed to each take a 10% stake in Novatek’s proposed 19.8 mtpa Arctic LNG 2 project. The Chinese backing puts the three-train facility firmly on course for an FID this year and will ramp up pressure on other LNG exporters targeting the Chinese market.
Novatek announced on Thursday that it had signed binding agreements with subsidiaries of China National Offshore Oil Corp. (CNOOC) and China National Petroleum Corp. (CNPC) for them to acquire the...
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