OAO Novatek has received notice from Total E&P Arctic Russia notifying the company that it has increased its equity stake in Novatek to 16%, a news release said.
The two companies jointly develop the Yamal LNG project. Novatek’s share in OAO Yamal LNG is currently 80%, and Total owns the remaining 20%, according to the releae. The project envisages the construction of a LNG plant with annual capacity of 16.5 million tons per annum based on the feedstock resources of the South-Tambeyskoye field.
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