Novatek Deal Indicates Total is Eyeing Asia Through Russia

摘要

BMI View: Total's US$800mn acquisition of another 2% stake in Novatek proves that the French major is aggressively increasing its exposure to Russia's upstream gas segment – and to the Yamal LNG project in particular. We believe that given the recent supply glut in North America and the debt crisis in Europe, the company is now eyeing the booming Asian markets.