Companies & Finance

Novatek eyes the Mediterranean, North Africa

Novatek is eyeing investment opportunities in the Mediterranean and North Africa, including the forthcoming bid round in Cyprus, the company chief executive said on Friday Novatek is eyeing investment opportunities in the Mediterranean and North Africa, including the forthcoming bid round in Cyprus, the company chief executive said on Friday.
By Natalia Antonenko and Ekaterina Naumova 27 April 2012 0 9371
Novatek Chief Executive Leonid Mikhelson is considering partnering with non-Russian companies. (PA)

Russian gas producer Novatek is interested in working in the Mediterranean and North Africa in partnership with non-Russian companies, Chief Executive Leonid Mikhelson said on Friday.

"We are interested in the Mediterranean and North Africa," he said at Novatek’s annual shareholders meeting in Moscow. The company had previously been looking at the possibility of investing in initial-stage projects abroad with existing partners Eni and Total.

Mikhelson mentioned in particular that the company was interested in bidding for offshore licences in Cyprus. "We're thinking about doing it," he...