Arctic LNG 2 Project Approved by Total, Novatek, Other Shareholders
September 05 2019 - 2:58AM
Dow Jones News
By Olivia Bugault
Total SA (FP.FR) said Thursday that the final investment
decision for the launch of Arctic LNG 2, a liquefied natural gas
project in Russia, has been approved.
The French oil major, Novatek (NVTK.LN) and the other project
shareholders approved the investment decision for the LNG project,
which will have a capacity of 19.8 million tons per year and should
export its first LNG cargo by 2023, Total said.
Total has a 10% direct interest in the Arctic LNG 2 project,
while Novatek hold a 60% interest in the company. Total also has a
19.4% stake in Russian gas producer Novatek.
Write to Olivia Bugault at olivia.bugault@dowjones.com
(END) Dow Jones Newswires
September 05, 2019 02:43 ET (06:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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