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Novatek sells stake in Arctic LNG 2 project to China

CNOOC and a unit of Petrochina will take 10% stakes each in a project that is set to reach final investment decision stage by the second half of the year. This follows on from the divestment of a 10% stake to Total in March

China is seen as one of the key consuming markets for Novatek’s LNG sales and the Russian company has previously co-operated with Petrochina on its Yamal LNG project

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