NOVATEK increases stake in Yamal LNG

abarrelfullabarrelfull wrote on 03 Oct 2011 11:33
Tags: lng novatek russia

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OAO NOVATEK (NOVATEK and/or the Company) today announced that it has increased its equity interest in Yamal LNG to 100% by exercising call options through its wholly owned subsidiary, NOVATEK North-West.

NOVATEK increased its equity interest through two call options for 23.9% and 25.1% purchased in July 2009 and March 2011, respectively. The options’ strike price will be paid in instalments with the final payment due by 30 June 2012.

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