Japan’s Mitsui Announces $700m Write-Down for Arctic LNG 2, Future Involvement Unclear Novatek’s Japanese development partner Mitsui revealed that it took a loss and write-off related to its investments in the Russian Arctic. According to the CEO the company remains undecided if or in what form it will continue being involved in the project.
Indian Energy Firms Reportedly in Talks to Buy Large Stake of Arctic LNG-2 Project Indian energy firms are said to be in discussions to acquire a 9,9 percent stake from Novatek PJSC.
New Powerful Arc7 LNG Carriers Could Eliminate Need for Icebreakers on Northern Sea Route An improved second generation of Arc7 LNG carriers revealed today by Finland’s Aker Arctic may be so powerful that it can navigate Russia’s Northern Sea Route year-round, even without icebreaker escorts.
Japan’s Mitsui and Mitsubishi Take 10 Percent Stake in Novatek’s Arctic LNG 2 Mitsui & Co. and Mitsubishi Corporation, two of Japan’s largest general trading companies will acquire a 10 percent stake in the Arctic LNG 2 project. This investment will complete Novatek’s search for investors for its latest project.
