Contents tagged with Novatek
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Saudi Arabia backs out of major Russian LNG project
After a year and a half of negotiations, the Saudi Arabian national oil and gas company Saudi Aramco has decided not to buy a share in Novatek’s Arctic LNG-2 project, four informed sources told the Vedomosti news agency.
Saudi Aramco, which was expected to invest around $5 billion in the project, was unhappy with the terms offered by Novatek. In addition, the Saudis were concerned by the risk of sanctions against the liquefied natural gas (LNG) plant, which would have been the largest in …