Novatek Gets Offer for Yamal LNG Stake

Novatek of Russia has reportedly received an offer from an unnamed buyer for a stake in the company’s Yamal LNG project.

Novatek’s chief financial officer Mark Gyetvay said in a phone conference that the offer came from “a group in the Pacific region,” Interfax informs.

Yamal LNG, in which Novatek holds 60% interest, Total and CNPC 20% each, will include a major integrated complex for the liquefaction of natural gas with a production capacity of 16.5 million tons per annum.

The three process trains that will make up this complex will have an annual production output of 5.5 million tons each, and are planned to be commissioned in 2016, 2017, and 2018.