Chinese oil company Sinopec is in talks to take a stake in Novatek's iarnaiLNG project in Russia, Reuters reported. A formal deal could be reached as early as late June. Novatek currently has an 80 percent stake in the project on the Yamal Peninsula with French supermajor Total holding the remaining 20 percent. Late last montli Gazprom cancelled its plans to take a working interest in the project to develop three gas fields.
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