The two companies closed the deal approved of by the Russian authorities in summer.
NOVATEK Company has closed the deal on selling 20% of OAO Yamal LNG shares to the French company Total via its wholly-owned subsidiary OOO Novatek Severo-Zapad.
The Memorandum of Cooperation in accordance with which Total is a strategic partner of NOVATEK in the project Yamal LNG as signed in March 2011. At the end of the summer the transaction was approved by the Governmental Commission for Control over Foreign Investment in the Russian Federation and the Federal Antimonopoly Service.
Yamal LNG project includes creating facilities for production, storage and shipment of the liquefied natural gas on the base of the resource potential of the Yuzhno-Tambeyskoye gas condensate field.
The project involves the construction of an LNG plant with the capacity of 15 million tons a year and the production of up to 1 million tons of gas condensate. The first phase of an LNG plant is to be launched in 2016.
Метки: energy industry news 2011, liquified natural gas, LNG plant, NOVATEK, Russian energy industry news, Тоtаl, Ямал
