CNOOC Limited signed a Heads of Agreement (HoA) with the Russian gas producer JSC NOVATEK to acquire 10% interest in the Arctic LNG 2 Project.
Located on the Gydan Peninsula in Russia, the Arctic LNG 2 Project includes the development of the Utrenneye gas field and three LNG trains.
Completion of the transaction is subject to conclusions of due diligence, signing of the Sales and Purchase Agreement, approval by the Company’s Board of Directors, and, if necessary, approval by Chinese and Russian authorities.
