By finalizing the acquisition of an additional 2% interest in Novatek for around $800 million, Total has increased its stake in Novatek to 14.09% of share capital.
This transaction was effective Dec. 7 and was finalized through the acquisition of shares from Novatek’s two main shareholders as per the agreement signed in March 2011.
Total is also Novatek’s main international partner on the Yamal LNG project with a 20% stake.
Novatek is the largest independent gas producer in Russia. Since 2009, Total and Novatek have been jointly developing the Termokarstovoye field.
Recommended Reading
Pickering Prognosticates 2025 Political Winds and Shale M&A
2025-01-14 - For oil and gas, big M&A deals will probably encounter less resistance, tariffs could be a threat and the industry will likely shrug off “drill, baby, drill” entreaties.
Industry Players Get Laser Focused on Emissions Reduction
2025-01-16 - Faced with progressively stringent requirements, companies are seeking methane monitoring technologies that make compliance easier.
Pioneer to Adapt Emvolon’s Flare Gas-to-Methanol Tech
2025-01-13 - The Department of Energy awarded Pioneer Energy $6 million to demonstrate the technology at an oil and gas facility in the Eagle Ford Shale for 12 months.
Bridger Photonics Announces New CEO to Support Company Growth
2025-01-29 - Bridger Photonics announced Ben Little as the company’s new CEO in support of the growth Bridger has experienced with the growing market adoption of its methane detection solutions.
Envana Paints a Bigger Methane Picture by Combining Existing Data with AI
2025-01-28 - Envana Software Solutions, a joint venture between Halliburton Co. and Siguler Guff, has been awarded a $4.2 million grant from the U.S. Department of Energy to advance its AI methane detection solution.