[ET Net News Agency, 10 June 2019] CNOOC Limited (00883) said the company and its
subsidiary CEPR Limited (CEPR) have entered into a share purchase agreement with Joint
Stock Company Novatek (JSC Novatek) and Ekropromstroy Limited Liability Company
(Ekropromstroy), a wholly-owned subsidiary of JSC Novatek. CEPR shall acquire 10% equity
interest in Arctic LNG 2 LLC (Arctic LNG 2) held by Ekropromstroy.
JSC Novatek is principally engaged in the exploration, production, processing and
marketing of natural gas and liquid hydrocarbons and has more than 20 years of operational
experience in the Russian oil and natural gas sector.
Arctic LNG 2 is engaging in the second large onshore conventional natural gas project
led by JSC Novatek on the Gydan Peninsula in Russia, which contains the development and
production of Utrenneye gas field and the construction and operation of three liquefied
natural gas trains. Arctic LNG 2 holds the liquefied natural gas licence that grants an
exclusive right to export liquefied natural gas produced from gas extracted from the
Utrenneye gas field. (RC)