Russia sells strategic oil & gas

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Россия распродает стратегический нефтегаз

China intends to acquire a controlling stake in Russian energy project “Arctic LNG 2”. Such information shared by the Minister of energy of Russia Alexander Novak. According to him, the Chinese authorities define the conditions under which you will be able to purchase part of a new plant for the liquefaction of natural gas.

Earlier in NOVATEK, which is implementing the project, has declared readiness to sell a share of Beijing “Arctic LNG 2”. The company noted that China is already a partner launched a year ago the project “Yamal LNG”.

Gas processing complex “Yamal LNG” only a 50.1% owned by Russian investors. The remaining 49.9 percent is divided between France’s Total and China’s CNPC, and the French owned 20% of shares. The volume of Total occurrences in a new project “Arctic LNG 2” is estimated at $ 10 billion, i.e. 10%. The company has the option to increase its stake to 15%.

As you can see, the policy of liberalization of the energy market of Russia, taken in the 90-ies of the last century, continues to be unchanged. Strategic oil and gas projects in the Arctic areas of the country is gradually coming under the control of Western and Eastern investors.

Moreover, the share of foreign capital reaches more than half of the entire cost of an enterprise.

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