Mitsui and Mitsubishi poised to take final 10% stake in Arctic LNG 2 - reports

摘要

Mitsui and Mitsubishi are set to sign a preliminary agreement outlining their intention to acquire a 10% stake in Novatek’s Arctic LNG 2 project on Friday, according to Japanese media. If finalised, the deal would seem to confirm reports that Saudi Aramco will not participate in the Arctic liquefaction development after months of deliberation. Japan Oil, Gas and Metals National Corporation (JOGMEC), a semi-independent government corporation, will support the deal by providing USD 2.8 billion to cover 75% of the equity stake, it is understood.