International

Novatek ready for Q3 FID on Arctic LNG2 after stake sales

Novatek will make a final investment decision on its Arctic LNG 2 project to liquefy and export natural gas in the third quarter of this year, the company’s chief financial officer, Mark Gyetvay said on Wednesday.

“The final investment decision (FID) will be made sometime early third quarter. We don’t have a date yet, but we have contracted 75 percent of the construction already, and materials,” Gyetvay told a conference in Lithuania.

Having sold 20 percent equity in the project to two Chinese buyers, Gyetvay said that Novatek hoped to sell another 10 percent in the coming weeks.

https://www.hellenicshippingnews.com/novatek-ready-for-q3-fid-on-arctic-lng2-after-stake-sales/