Consortium of Japanese companies to attract partner in Arctic LNG 2 within nine months, says Novatek CEO

BELOKAMENKA /Murmansk Region/, July 2. /TASS/. A consortium comprising Japan’s Mitsui and Jogmec may attract another partner in their 10% stake in the Arctic LNG 2 project within nine months, Chief Executive Officer of Russia’s gas producer Novatek Leonid Mikhelson told reporters on Tuesday. "We have reached out to them (Mitsui and Jogmec), though it is not provided for, they have an opportunity to attract a third partner within the next nine months. As of now they can attract companies among Japan’s top businesses from the approved list," he said. According to CEO, Mitsui takes the decision on the companies willing to enter the consortium, while Novatek does not participate in it. "The participation of companies beyond the consortium, particularly Mitsubishi, in the project is not under discussion," he noted. Mikhelson added that Novak is considering the participation of Japan’s MOL (part of Mitsui) in the project on construction of an LNG terminal on Kamchatka and in Murmansk. It was announced on June 29 following the top-level talks in Japan’s Osaka between Moscow and Tokyo that Novatek would sell a 10% stake in the Arctic LNG 2 plant project to the consortium of Mitsui & Co and Jogmec, which would become the fourth shareholder of the project. Arctic LNG 2 is Novatek's second LNG plant. The launch of the plant based on the Gydan fields is scheduled for 2022-2023. Its capacity will be about 19.8 mln tonnes of LNG per year. Read more