LNG

Saudi Aramco in talks for Arctic LNG 2 stake

Saudi Aramco's CEO and his Novatek counterpart are discussing the possibility of Aramco acquiring a stake in the Arctic LNG 2 project.
By Staff reporter 9 November 2018 0 33235

Saudi Aramco Chief Executive Amin Nasser will hold talks with his Novatek counterpart Leonid Mikhelson on Friday on the possibility of Aramco acquiring a stake in Novatek’s Arctic LNG 2 project, Nasser told reporters.

He added that he was hopeful an agreement would be signed as soon as possible. Previous reports have said Saudi Arabia is ready to invest about $5 billion in Arctic LNG 2.

Novatek plans to take FID on its second liquefaction plant once a consortium of partners has been formed.

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