Beijing: State-owned China National Petroleum Corp (CNPC), parent of listed company PetroChina, has signed a deal this weekend with Novatek to purchase a 20% stake in its Arctic LNG project.
According to the agreement, CNPC will receive a long-term supply from the Yamal LNG project, with Novatek seeking to start LNG output at the end of 2016, shipping the LNG by tanker.
Currently, the Yamal LNG project is 80% owned by Novateck and 20% owned by Total SA. [24/06/13]
