Novatek Agrees to Sell 10% Interest in Arctic Transshipment to TotalEnergies
03 June 2021 - 11:37PM
Dow Jones News
By Adria Calatayud
Russia's Novatek said Thursday that it has signed an agreement
with France's TotalEnergies SE on the sale of a 10% interest in its
Arctic Transshipment LLC subsidiary.
The Russian energy company didn't disclose the terms of the
deal.
Arctic Transshipment will operate two liquefied natural gas
transshipment complexes currently under construction in the
Kamchatka and Murmansk regions of Russia as part of Novatek's
logistical chain, the company said.
"The transshipment facilities will ensure the optimal
utilization of our ice tanker fleet and reduce the cost of
transport to consuming markets for the company's existing and
future LNG projects," Novatek Management Board Chairman Leonid
Mikhelson said.
Novatek separately said it has signed a memorandum of
understanding with TotalEnergies to cooperate on decarbonization,
hydrogen and renewables.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
June 03, 2021 09:37 ET (13:37 GMT)
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