Riyadh – Mubasher: Russia’s Novatek is to complete joint venture (JV) talks with the state-owned Saudi Arabian Oil Company to invest in Arctic liquefied natural gas (LNG) 2 project over the coming period, the Russian gas giant’s CEO said.
“We are in talks with Saudi Aramco (on the Arctic LNG 2 project). I think we will get something concrete in coming months,” Leonid Mikhelson told Reuters on Sunday.
The statement came after the Russian top official discussed the project with the kingdom’s energy minister Khalid al-Falih, the news agency added.
International LNG prices are not forecast to be changed after the JV will start, Mikhelson noted.
In November 2017, RIA News Agency stated that the two nations discussed the possibility of Aramco’s participation in Novatek’s Arctic LNG 2 project.
The state-run Saudi Aramco last December began talks with Japan’s Mitsui & Co and Russian Sovereign Wealth Fund (RDIF) to buy a stake in Russian Novatek’s LNG 2 project in Arctic.
In December 2018, RDIF’s head Kirill Dmitriev told Reuters that the fund is weighing up investments in Novatek’s LNG 2 project in Arctic with the world's largest oil producer.
