Offtake and finance boost for Novatek’s Arctic LNG 2 as China commits to 20% stake

摘要

Chinese companies have taken a binding 20% participation interest in the Novatek-led Arctic LNG 2 project - moving it a step closer to formal final investment decision. FID is currently expected in the third quarter of this year but construction is already well under way. China National Petroleum Corporation (CNPC) and CNOOC - two of China’s “Big Three” national oil and gas companies - have each agreed to take a 10% stake.