Baker Botts has announced that a cross border team of its global projects lawyers has acted for PAO Novatek on the sale of a 10% participation interest in the Arctic LNG 2 project.
According to the statement, the transaction was signed on 4 March, and will close by the end of 1Q19.
The Arctic LNG 2 project envisages the construction of three 6.6 million tpy LNG trains, using gravity-based structure (GBS) platforms. The project will use the hydrocarbon resources of the Utrenneye field.
According to Baker Botts, Novatek estimates total project costs to be approximately US$20 billion – US$21 billion.
Read the article online at: https://www.lngindustry.com/liquefaction/06032019/baker-botts-acts-for-pao-novatek-on-the-10-sale-in-artic-lng-2-to-total/